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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (20748)1/8/2005 10:02:45 AM
From: russwinter  Read Replies (3) of 116555
 
<Although we see that “some” of the FED members are concerned about inflation expectations>

The actual wording was "a number" (*) not "some". Just the same, although they should be concerned about dangerous inflation, I'm inclined to agree with you that this is more Ministry of Propaganda bluster (somewhat backed up by less Dollar printing post Dec 8th, a game of chicken) to shore up the Dollar, and to squeeze the big anti-USD hedge funds and speculators.
Message 20927897
It is important to watch the actual monetary injections as to whether this continues. Watch what they do, not what the say. Also, although these positions can change in a flash, note that the commercials are heavy long EDs, and all the treasuries save the 30 year. I for one am not making bearish ED and note bets at the moment.

(*) In their discussion of the outlook for prices, a number of participants cited developments that could pose upside inflation risks. Although oil prices had fallen of late, they were still considerably higher than they had been in the spring, and the recent decline in the dollar would raise import prices and diminish competitive pressures on many industries. The pass-through from both sources should be limited, but they were still a potential source of upward pressure on prices that could get embedded in higher inflation under certain circumstances.
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