NY Fed President John Williams commented on inflation and the real estimates of inflation being closer to 2.5%.

This is the first sign that the Feds are not looking back but forward and projecting the data correctly in our opinion.

An example is retail sales. It rose 0.6% in August, hotter than the 0.2% expected. But when you strip out gasoline, sales only rose by 0.2%.

The idea is to look closely at the numbers and not have a knee jerk reaction.

There are 17% more homes on the market compared to January. This is good news.