The upcoming data will soon enough force the Fed to change its stance, otherwise it will begin to look ridiculous,
More Quotes from Ian Shepherdson:
Even though most people displaced by the storm are still away from their homes, Labor Department officials have been helping people make claims from their temporary accommodations.Ian Shepherdson
Manufacturers are still miserable, and output will keep falling for some time, but they can now see light at the end of the tunnel, ... They are working off their excess inventory ... and are now hopeful of stronger orders by the year-end.
Ian Shepherdson
Behind the enormous distortions caused by the hurricanes, the underlying state of the labor market has continued to improve.
Ian Shepherdson
Clearly, there is no near-term inflation threat coming from the labor market. In short, great numbers, which will prompt yet more talk of miracles.
Ian Shepherdson
Inventories remain very low and will add to third quarter and fourth quarter growth, too.
Ian Shepherdson
This report indicates manufacturing is continuing to rebound from the Asian crisis, which is exactly what the Fed expects.
Ian Shepherdson
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