Stephen Gallagher
Stephen Gallagher
Stephen Gallagheris an English writer...
core giving instead market negative news number pause reason
This is negative news and giving the market reason to pause a little. The core number is up 0.3 instead of 0.2. It's all it takes.
companies discount due housing lower mild numbers themselves weather
The housing numbers look pretty strong, but we have to discount them due to the mild weather effects. We are getting confirmations from the companies themselves about lower orders.
drawn growth higher inflation labor market ominous
The inflationary implications drawn from the combination of exceptional growth and higher inflation could become more ominous when we incorporate the tightening labor market trends.
business consumer seeing strength strong
It's a very strong report. We're seeing a lot of strength in the consumer and business sectors.
bit encouraged energy fear fed goods seeing stop
The Fed is not going to stop but it has got to be a bit more encouraged that their big fear ... that there would be pass-through from energy to other goods and they really are not seeing it.
confident convince fed help inflation low markets numbers remain secure september worried
The Fed is worried about pass-through, and even if they don't see it in the September numbers it won't make them feel secure about the future. This will help the markets remain confident that inflation is low but not necessarily convince the Fed.
aggressive chance greenspan increase message move today
It may be even more that one (rate hike). If they move once there is always another chance for another one, but I think the message that we got from Greenspan today is that it will not be an aggressive increase in rates.