Owen Fitzpatrick Fed Quotations

There was a little concern over some of the comments made by one of the Fed presidents.

Inflation is once again confirmed to be not much of a concern and well under control outside of the energy sector. That's helpful. It takes a little bit of pressure off the possibility of the Fed going much beyond another two rate increases,

If the number had been too strong, people would translate into the fact that the Fed would have to raise rates over a longer period of time.

The consumer price index was not a bad number at all. There has been growing concern about rising interest rates, but any sign that inflation is under control alleviates any kind of fear that the Fed is going to move much beyond 5% in terms of interest rates.

Economic growth has been modest but positive, but what does it mean in terms of Fed action? Too strong of data is almost going to be viewed as a negative, especially if it's showing an overheated economy.

The market is really waiting for a little relief in terms of interest rates moving higher. Once we get that relief of the Fed being done, you'll see the market start to concentrate on fundamentals and the fact that we're still going to see pretty good earnings growth this year.