This morning, I’ll be doing the guest-hosting thing on CNBC’s Morning Call, from 11:00am til Noon.
Oil: After kissing $140, crude is now down to $133.
Credit Crunch: Bank and Broker stocks still have work to do
Fed Ex report: What does FedEx earnings have to say about a any recession ?
We saw a nice pop in retail sales, and some of it was inflationary — food and energy — and the rest of it was the rebate checks, about half of which now are spent.
More later . . .
Here’s one of 3 parts of today’s CNBC appearance:
Airtime: Wed. Jun. 18 2008 | :04:0 08 ET
Insight on the markets and financials, with Barry Ritholtz, Fusion IQ; Ed Sheidlower, Bryce Capital Management and CNBC’s Bob Pisani
Former Federal Reserve Bank of St. Louis President William Poole talks about monetary policy, the outlook for inflation and the housing market, and the Fed’s response to the turmoil in credit markets.
00:00 Fed’s stance on inflation, policy outlook
03:58 Core PCE; energy not a "temporary shock"
05:49 Inflation expectations, wage growth
07:12 State of U.S. banking system
08:32 "More pain" in housing market; energy prices
11:40 Fed’s response to credit market turmoil
14:01 Brokerage regulation; Fed’s independence
15:50 Fed "should stay clear" of dollar policy.
Poole Says Fed Has to Deter Inflation From Fueling Wages: Video
Bloomberg, June 17, 2008 09:51 EDT