Click the play button for the audio version of this week’s update (where I say “when you take out the service sector” with respect to CPI, I actually meant when you “single out” the service sector inflation is running 25% above the Fed’s target):

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Current themes: Central Banks: Janet Yellen didn’t disappoint traders last week during her semi-annual testimony to Congress. She promised no rate hikes for at least the next two meetings and, even then, only upon evidence that the labor market is sufficiently tight and inflation is of enough concern to warrant the first step in getting […]

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If you’re one to fret over falling stock prices, and have been paying attention these past few years, you’re keyed on the Fed. That is, you’re worried about interest rates. Or, more specifically, you’re worried about when the Fed will start raising the fed funds rate (the interest rate at which banks lend to each […]

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As of this writing January’s swoon in stocks has been more than offset by February’s swing. Where we go from here of course is anybody’s guess, for the markets are unequivocally unpredictable (particularly in the short-term). The U.S. economic indicators, while somewhat mixed of late, are, on balance, positive. Particularly for job growth going forward. […]

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The good news on oil is that its price is up nearly 20% off the January 29 bottom. The bad news on oil is that its price is up nearly 20% off the January 29 bottom (I really like $2.something gas). When we hear, as we have lots lately, that the stock market is up […]

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You are in the post office about to send a gift, a package full of champagne glasses, to a cousin in Central Siberia. As the package can be damaged during transportation, you would stamp “fragile”, “breakable”, or “handle with care” on it (in red). Now what is the exact opposite of such a situation, the […]

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