The Empire Strikes Out: Empire State Manufacturing Plunges To Lowest Since 2009

The Empire State (New York) Manufacturing Survey for General Business Conditions just plunged to its lowest rate since April 2009.

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Hey, I thought cheap oil was supposed to propel consumers and businesses to spend more? At least that is what I heard from James Bullard of the St Louis Fed: “For the macroeconomy as a whole, the relatively low crude oil prices the U.S. is enjoying today are likely a bullish factor.”

Will this report and oil cause The Fed to delay another rate increase?

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