Can the Fed Really Get Away With That Shell Game?

Jeff Rosenberg: Can you substitute a duration or a stasis in Fed policy for going up to a higher rate? He says it depends on what we're looking at today and what it implies about inflation. The payroll report has really become kind of the stepchild of economic reports relative to next week's CPI, he says. Rosenberg: One thing out of today's payroll report is that if you look at the goods components, wholesale trade, retail, transportation, those are up total 26K in terms of the monthly payroll gains.