Click HERE to view a PDF of this week’s Economic and Financial Commentary from Wells Fargo
-The Federal Reserve announced another round of asset purchases and further extended the time that it expects short-term interest rates to remain extraordinarily low through the middle of 2015.
-Data on retail sales and industrial production came in well below expectations, even after accounting for unusually large swings in utility usage and surging energy prices.
-Inflation roared back in August, as gasoline prices surged and wholesale food prices spiked. More inflation remains in the pipeline but the Consumer Price Index should remain within the Fed’s comfort zone for the next few quarters.