So I don't think the number was quite as weak as the headline.
More Quotes from Sherry Cooper:
Predicting the long-awaited U.S. economic slowdown can be a risky business,Sherry Cooper
Worry not, the longest expansion in American history still has legs.
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There is no longer a shadow of doubt that the U.S. economy is downshifting rapidly the only question is how deep the slowdown goes, ... We do not expect to see recession in 2001, but we certainly expect to see significantly slower growth with continued moderating inflation.
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It's a great number obviously, and that's a sigh of relief, but I wouldn't put too much into the decline of the core,
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On balance, headline inflation has likely peaked, but the core rate is at the top end of the Fed's comfort zone, which will keep chairman Allan Greenspan's foot firmly on the brakes,
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These figures reinforce the slowdown view, ... The weakness in confidence increases the odds that a sustained soft landing is moving into place.
Sherry Cooper
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