Patrick Fearon Fed Quotations

If the core rate doesn't get out of hand and growth comes in moderate, at some point fairly soon the Fed could decide ... to stop raising rates.

Manufacturing in broad terms is enjoying a very robust period even if certain sub-industries are struggling. It's probably another piece of evidence that the Fed could potentially be raising interest rates after the May 10 monetary policy meeting.

The 1.9 percent December year-over-year rise in the core personal consumption expenditure index reflects a stable and modest inflation rate. That would support the idea that the Fed can stop raising rates soon.

That would support the idea that the Fed can stop raising rates soon.

The fact that (core inflation) has been on a downward trend for two months is more evidence that Fed policy-makers might stop raising interest rates sooner rather than later.

There was decent strength across the retail sector. These numbers are consistent with an economy growing at a comfortable rate, a pace that would allow the Fed to continue to raise interest rates in a measured fashion.