Wells Fargo Weekly Economic & Financial Commentary – February 27, 2015

Wells Fargo Weekly Economic & Financial Commentary – February 27, 2015

The Hill Is Alive with the Sound of Yellen

• Yellen’s testimony to Congress this week did not change our outlook for a rate hike in June, as the Fed sees recent weakness in inflation as transitory.
• Consumer prices fell again in January, though much of the decline can be blamed on lower oil prices and a stronger dollar.
• Consumers remain confident despite the fall in the headline index. Weaker home sales numbers point to consumers’ hesitation to make major purchases.
• Durable goods orders rebounded some, though not enough to make up for recent weakness.

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