- Some part of April inflation represents lagged nature of data
- Fed is still very much holding its breath
- Right now is a time for the Fed to wait for more information, try to get past the noise in the data
- Fed’s task is to be a steady hand and not to respond to daily gyrations of stock market, policy pronouncements
- Cannot jump to conclusions about long-term trends given all the short-term volatility present
This article was written by Justin Low at www.forexlive.com.
