I seem to agree with him as well. It looks like they may pause in raising rates this time too. Should be a nice bump for the bond market. Here is what the Fed thinks:
"In the immediate future, this will show up as a big blip in CPI (the consumer price index). But that is not relevant for long-term price stability in this county," said Robert Rasche, director of research at the St. Louis Federal Reserve.
This is really up to when they can get those refineries and oil rigs back on line. If it takes months then we will surely be reeling from these high gas prices all through the winter.
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