You can see this clear, ongoing deterioration. And what's scary about this is it's still accelerating.
He thinks the [Fed] is right to remain focused on the risk of falling inflation.
It's an ugly number -- you have a decline in March, you have a downward revision to the prior month.
We had thought that transparency meant efficiency in the market... and that's not what happened. The meaning of the bias within the Fed was not well understood.
Activities are beginning to pick up. Manufacturing has been the weakest part of the economy. The rest of the economy may be even stronger.
It [this report] is less inflationary than what we saw earlier this year. Bottom line, things are definitely slowing down a bit.
In today's market, everyone is a Fed-watcher. Hopefully we will not lose any transparency and will lose some of the volatility.
Housing is as strong as ever, and the mortgage business is as good as ever.
All in all, a much more bond-friendly, stock market-hostile report than expected.
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