There hasn't been a lot of correlation between commodity prices and inflation since 1990.
More Quotes from Peter Kretzmer:
The thinking that has surprised us has been that the markets and the Fed have been more concerned about the impact on inflation expectations than they've been about real growth.Peter Kretzmer
The overall weaker GDP number coming from the trade data does give you a more bullish feeling on Treasuries,
Peter Kretzmer
The price of gold is not particularly well explained by monetary policy.
Peter Kretzmer
The huge U.S. trade deficit may finally be stabilizing.
Peter Kretzmer
Spending ended the quarter on a strong note, and that largely reflects the return of growth in auto sales. It's confirmation that spending was getting back on track.
Peter Kretzmer
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