Tuesday, September 05, 2006

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.


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