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Philly Fed index soars

The Philadelphia Fed Business Outlook Survey came in very strong. It hasn't been this strong since the economic boom times of the early 1980s. Very difficult to ignore the mounting evidence of a strong economic recovery. This is not going to be easily derailed. Plus, the survey noted widespread evidence of rising prices. Things are picking up all over the place. How much longer is the Fed going to be able to ignore this? There is absolutely no need for short-term interest rates to be zero.

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