Despite the discouraging headline that CPI inflation rose, there was actually more to be encouraged than discouraged about in this report. Since it is already known that gasoline has dropped sharply in October, that September rise can also be ignored.
More Quotes from David Orr:
The results are great for builders, great for sellers of home building products and consumer household products, and great for growth, ... But, the dramatic strength in both units sold and in prices are both more fuel for a more aggressive Fed.David Orr
The report will not comfort the Fed, despite the good headline data, ... The news further back in the pipeline was not good.
David Orr
It seemed serious that he fired bullets into the trailer. One had gone clear through the other side.
David Orr
Given that the Fed has indicated this is a key number, that's very hopeful,
David Orr
(Fed Chairman Alan) Greenspan thinks consumer confidence is important, and if he thinks so I guess we should think so,
David Orr
We have often noted the Fed tries to choose a policy action that minimizes the consequences of a mistake. Which would have the least negative consequences today easing too much and setting off an excessively strong rebound or easing too little and allowing the economy to slip back into recession We would vote for the former.
David Orr
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