CPI/Core coming out on friday.

[blazespinnaker]

Any predictions?

Retail came out HUGE ... good bye, 0% gdp Roubini!

[Finster]

Re: CPI/Core coming out on friday.

CPI/Core coming out on friday.

Whoop de twang.

A meaningless government ecostat.

[blazespinnaker]

Re: CPI/Core coming out on friday.

Perhaps, but Bernanke wants to do inflation targeting. Unless he decides to target inflation at 2.5%, it's pretty relevant.

[Finster]

Re: CPI/Core coming out on friday.

Perhaps, but Bernanke wants to do inflation targeting. Unless he decides to target inflation at 2.5%, it's pretty relevant.

Double whoop-de-twang. Bernanke is supposedly the big inflation-targeting wonk, and he has offered absolutely nothing but lip service in response to an extended period of "core" inflation running well above his averred target.

Not to mention that the whole subterfuge of "core" inflation was concocted back during the Nixon administration by then-FOMC-head Arthur Burns as a device to make inflation appear less than it was when the Fed was ramping it up. In other words, not an objective reporting statistic, but a ruse calculated to make the Fed look better as it inflated.

If you think these numbers mean diddly-squat, you are living proof of PT Barnum's admonition about suckers.

[blazespinnaker]

Re: CPI/Core coming out on friday.

Maybe we could keep the personal attacks out of the conversations around here. We've all been doing a good job at that, mostly.

[Finster]

Re: CPI/Core coming out on friday.

Maybe we could keep the personal attacks out of the conversations around here. We've all been doing a good job at that, mostly.

Awww, c'mon, Blaze. It's all sporting rhetoric. Despite my often obtuse style, you should know I think you're pretty cool. If I really thought you were as dumb as I pretend you are, it wouldn't be worth the keystrokes ... ;)

[spunky]

Re: CPI/Core coming out on friday.

Once again:

Watch what a man does, not what he says. ;)

[Finster]

Re: CPI/Core coming out on friday.

Once again:

Watch what a man does, not what he says. ;)

Good point, Spunk. Bernanke says he favors an inflation target between 1%-2%, but keeps monetary policy easy while it surpasses the upper bound by a substantial margin. Even using some of the very lowest of all published inflation stats ...

This from a Fed that supposedly values its credibility?

[blazespinnaker]

Re: CPI/Core coming out on friday.

The fed is all about what they say. If they lose credibility, than they'll lose control over the economy ... this is why Bernanke wants to do targeting.

I agree, the fed stance right now is pushing the limits of credibility, especially after the recent uptick in sales and mortgage applications. I say the odds of a rate hike have seriously increased.

[Finster]

Re: CPI/Core coming out on friday.

...If they lose credibility...

... oops ... too late ... :eek: