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Thursday, February 18, 2010

Today's Economic Reports


Here are today's economic reports. CPI came in a lot hotter than expected, and initial and continuing claims show no improvement, a perfect illustration of the corner the FOMC has painted themselves into. A combination of high inflation and high unemployment will be devestating, and the FOMC will have to chose which one to deal with. Raise rates to tame inflation, and expect unemployment to jump. Keep rates low (or more QE) and inflation goes through the roof. We are pretty much screwed either way.

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