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Weak Reasons Fed Will Wait on Rates
There have been several theories floating around for why the Federal Reserve won't raise rates in September: oil at $40 a barrel means there's no inflation; the volatility in global markets; falling commodity prices suggest a global slowdown is a risk that might become more likely if China's growth falters. I find none of these especially persuasive. The latest excuse for Fed inaction making the rounds is the August employment situation report, out on Sept. 4. August data can be misleading, with seasonal adjustments caused by teachers returning to school and temporary automaker layoffs ending. We could see a weak ... (full story)