00:00Yeah, Matt, we have no jobs stated today, but we do have these interesting Michigan numbers because it's quite the difference from what we saw with the conference board, which showed a lot of confidence dropping across the country.
00:10In this case, the Michigan numbers go up 57.3 for the final read in the month of January. The current conditions index goes up to 58.3 from 55.5, and the expectations index is down only fractionally, 56.6 from 57.
00:31Now, the number that the Fed will be watching, obviously, is the inflation expectations figures, and on a one-year basis, we see a big drop in inflation expectations to 3.5 percent from 4 percent, and from the 5 to 10, it's a tick higher, 3.4 from 3.3.
00:49But that one-year number is going to give the Fed a lot better feeling, perhaps, about what is happening with inflation at a time when the numbers we've seen so far on jobs this week have not been good.
01:01Now, remember, next week we get both the jobs report, delayed from today, and the CPI report. So both sides of the mandate are up next week.
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