Fed's Poole Speaks
Here is a summary of his comments:
- Housing weakness close to what he expected
- Consumption may soften a little
- Core inflation to come down in coming months
- Lower bond yields will prevent dramatic slowdown
- Very unlikely we will have housing crash
- August jobs report suggests "even keel"
- Fed will take wait & see approach
Comments seen as benign to the market, which has rallied into positive territory.