The good economic news this week was just that … good news
CNN
“Good news is bad news” has been a common refrain for a while now.
“Good news is bad news” has been a common refrain for a while now. When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. This week, a string of good news was actually good news: Closely watched inflation gauges showed prices had cooled more than anticipated; Americans’ financial outlooks were rosier than they have been in years while their inflation expectations dipped; and, on Friday, US import prices reversed course and fell sharply, adding fuel to the disinflationary fire. “What we saw in the data is a reaffirmation of the idea that the economy, hiring, inflation are all cooling, which should create the conditions later this year for the Federal Reserve to relax their restrictive policy rate,” said Joe Brusuelas, principal and chief economist for RSM US. “And long-term interest rates will come down, which means the cost of financing, to purchase a car, a dishwasher or a washing machine or dryer, all will fall.” He added: “That is good news.” This week — with its multiple inflation reports, a Fed meeting, a new central bank rate cut timeline and economic projections, and a slew of ancillary data — had the makings of being a market-mover and a foreteller of the economic trajectory.
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