We still have a very weak world economy, despite the fact that the U.S. economy is still doing pretty good, ... We're seeing lower prices basically because there is more production out there than demand.
More Quotes from Gary Thayer:
The bond market took the GDP number positively, ... It had expected stronger growth and some people may now be reminded that the Fed will not be quick to raise rates.Gary Thayer
The employment component was just a tad lower than what we saw in November so it's still a healthy number.
Gary Thayer
The good news is that the inflation number was also revised down slightly but is still running higher than we saw a year or so ago,
Gary Thayer
I wouldn't disagree with some of the things he said, but I don't know why he said those particular things at this time.
Gary Thayer
It probably doesn't mean we don't see another rate increase, but it suggests that the Fed is not behind the curve and inflation is not getting out of control.
Gary Thayer
Along with the rise in non-fuel import prices, this suggests the weaker dollar is taking competitive pressure off of businesses, giving them the extra pricing power they didn't have a couple of years ago.
Gary Thayer
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