Analysts were expecting 0.3% for the headline and 0.1% for the core.
This means major breathing room for Bernanke. Yesterday’s hot PPI number had heightened concerns that traditional inflation measures were coming on a lot faster than expected.
The numbers seem to be soothing to markets. Stocks remain modestly lower, but have hardly budged.
The status quo lives!
Those who argue that the Fed’s little tightening like that isn’t the beginning of a major cycle change have a little more on their side now.
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See Also:
- PPI Shows Inflation Way Higher Than Anticipated, Jobless Claims Take Big Bump Up
- We’ve Just Gotten More Proof That Bernanke Has Been Replaced Already
- 10 Ways To Profit From Bernanke’s Big Move