THE BASIS POINT
Fundamentals 8/18: Inflation, Home Sales, Jobs, Manufacturing
Existing Home Sales Up 7%, Foreclosure Stats, 3rd Largest Bank Failure, Lender Guideline Updates
Core PCE +0.1% May and +1.8% YOY, Fed OK With This Inflation Rate. Savings at Record +6.9% As Consumers Hold Back.
Core PCE +0.2% March and +1.8% YOY, Fed OK With This Inflation Rate. Savings +4.2% As Consumers Hold Back.
Core PCE +0.2% In February and +1.7% YOY, In Fed Comfort Zone. Savings +4.0%, A 10+yr High.
CPI: +0.2% for February, 0.2% YOY
PPI: -1.3% YOY Through February, Core PPI +4% YOY. Inflation Not A Threat Now.
Core PCE +0.1% In January and +1.6% YOY, In Fed Comfort Zone. Savings +5%, A 15yr High.
CPI: +0.3% for January, 0% YOY, Slowest Consumer Inflation Since 1955
PPI: -1% January 08 to 09, Due to -18.4% Energy Prices and +1.8% Food Prices
Core PCE 0% In December and +1.7% YOY, In Fed Comfort Zone. Spending -1%, Sixth Straigh Drop.
CPI: -0.7% for December, +0.1% YOY, Slowest Consumer Inflation Since 1954
PPI: -1.9% For December, Due to -9.3% Energy Prices and -1.5% Food Prices
Bernanke On How To Avoid Deflation
PCE -1.1% November and 1.9% YOY, In Line With Fed Expectations,