Michael Darda
Michael Darda
action additional create disruptive downward drive fed financial inflation likely metals move precious pressure prices rates renewed sharp
Such action could create a sharp upward move in inflation expectations, additional upward pressure on precious metals prices and renewed downward pressure on the dollar, ... If that were to happen, the Fed likely would have to drive rates up much more in the future, which could be disruptive to financial markets.
august headline jobs july june number report robust
I thought the jobs report was more robust than the headline number would suggest, with the June and July upward revisions to payrolls countering the August miss.
economy good higher oil remains report retail sales strong suggestion
Overall, the retail sales report was a strong suggestion that the economy remains robust, particularly when you take out the autos component. It suggests that we're going to see a good read on GDP growth, even with the higher oil prices.
basically fed market raising realized seeing stock
I think he's basically greasing the skids for the Fed to keep raising rates, and that may not be something the stock market has realized yet, ... and that's why you're not seeing much reaction.
growth percent
You just can't have 30 percent growth every quarter.
fourth happened quarter
It doesn't look like what happened with GDP in the fourth quarter is a harbinger of the future.
appreciation dramatic market negative number price sign slowing
Today's number is a sign of slowing ahead. But that's not a negative thing. With the dramatic price appreciation we've seen, we don't want to see a runaway market out of control.
crude escaping gravity looks oil
To me, this looks like continuation of crude oil escaping the gravity of reality.
anywhere cause close depended market miss negative recent
If we get anywhere close to the forecast, its going to be negative for bonds, cause that market has depended on a miss on payrolls in recent months.
affected against almost benefit dollar gold major prices rising run
Gold prices are rising against almost every major currency, ... So the run up in gold prices here has not affected the dollar to the benefit of other currencies.
based demand future happen near supplies
A significant part of demand right now is based on speculation that something is going to happen in the future or near future to make supplies much more scarce.
change context economic monetary overall policy risks talking within
There's no real change in the rhetoric. He's talking about risks to economic growth, but within the overall context that monetary policy can respond.
pause percent saying
Essentially, he's saying that they may pause around 5 percent after the May meeting.
bond economy market ok reaction reassure seemed stock
They seemed to reassure the market that the economy was OK after the hurricanes, but overall, I don't think there's anything new, and that's why the stock and bond reaction has been muted.