Stocks are higher and Bonds are following through on their down day yesterday so far this morning. We welcome the quiet news day, but next week is chuck full of housing dating. Existing Home Sales, the FHFA House Price Index, Case Shiller Home Price Index, and New Home Sales will all be released.
Yesterday, I read the Fed called the recent uptick in inflation “noise” and that they still saw inflation as very low. After some further research, it appears that the Fed doesn’t think inflation, as measured by the PCE (Personal Consumption Expenditures) will get to 2% until the end of 2016…2 ½ years away. I wonder if the Fed is like Leslie Nielsen in the Naked Gun saying “Nothing to see here”.