Sevens Report Research’s Tom Essaye Quoted by Barron’s in a Phone Interview
Price pressures are firming up: Sevens Report Editor, Tom Essaye, Quoted in Barron’s
Dow Drops 300 Points. Price Pressures Are Firming Up.
Sevens Report Research’s Tom Essaye told Barron’s in a phone interview that hotter-than-expected employment cost and home price data spooked markets after a couple strong days.
“What I think that’s doing is reminding everybody, after a couple of days of a breather, that there’s really a long and growing list of indicators that are showing price pressures are firming up,” Essaye says.
He notes that while inflation is not roaring back, the numbers have remained elevated enough to increase the likelihood that the Federal Reserve keeps rates higher for longer.
“If he says, ‘Look, this is very disappointing and we may have to consider hiking rates again,’ which I don’t think he will do, but if he does do that, then it’s going to hit the markets really hard,” Essaye says.
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