No. 970: Tipping Point, Liquidity, Freight, Hurricane-Disrupted Data, Retail Sales, Production, Inflation

(SGS Subscription required) • Tipping Point for the Markets Likely Is at Hand
• Booming Consumer Outlook in September 2018 Has Parallels to 1987
• The FOMC Hiked Rates as Expected, Although Core Inflation Had Slowed Back to Below Overheated Conditions
• The Fed Has Dimmed Near-Term Economic Prospects by Continuing to Tighten the Screws on Consumer and Systemic Liquidity, Likely Thwarting Any Nascent Economic Recovery
• August Real Average Weekly Earnings Growth Remained Impaired
• Monthly Growth in Real Retail Sales and Production Ground to a Halt in August, Net of Revisions, While Annual Growth in Freight Activity Softened
• Hurricane Florence Likely Disrupted Pending September Employment and Unemployment Numbers, on Top of Year-Ago Distortions
• Hurricane-Spiked Gasoline Prices in 2017 Will Have a Minimal Dampening Effect on the Pending Social Security COLA Determination
• Hurricane-Driven 2017 Data Turmoil Resurfaced with August 2018 Inflation, Slowing Annual Inflation, with Headline Growth Distortions Likely in Pending Economic Releases for September 2018 and Beyond

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