August retail sales were revised higher to +0.7%. Year-over-year CPI is running at 1.1%, well below the 2% target Bernanke lays out in the speech he is giving now…He intends to ease until we get to that target, or higher. (Much higher is what the market is worried about…)
We may not need QE, but we’re gonna get it…
Stocks love the data. They get to have their cake and eat it too…
Risk on!