Industrial production recorded the largest monthly uptick since May 2010 in November. The acceleration in growth surprised the 81 analysts surveyed by Bloomberg, who had predicted an increase of only 0.7%, and instead witnessed growth of 1.3% recorded for the month. When combined with recent strong growth in employment, upticks in industrial production and other economic measures make it harder to understand the Fed’s continued defense of its low-rates-forever policy.
What We’re Reading:
A Monthly Check for Life? Don’t Forget Inflation (The Wall Street Journal)
Energy’s Slide Has Unnerving Echoes (The Wall Street Journal)
Lower Oil and King Dollar Are Unambiguously Good (National Review)
Keynesian Confusion Is The Christmas ‘Re-Gift’ That Keeps On Giving (Forbes)
Low-rate pledge may stay in Fed statement (MarketWatch)