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Surveillance: Smart Fed Policy with Garvey

Bloomberg Surveillance

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Does the Fed's Inflation Report Really Move the Dial?

The BLS notes that they applied the historical revisions that they put into the jobs report and into the CPI reports to this release, which is probably why it is such a huge show. Jobs and CPI will have a much bigger influence on the Fed than today's minimum. Tomorrow we do get at 10 a.m. the ISM Services Index, and that is going to be key, not just the index but prices paid for that. If you see that kind of moving services, could that really move the dial?

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