It always is at this point in the cycle.
The question now is, when will banks start to lend again?
Paterson's analysis site will have more details on the statistical release.
* * * * * J B K * * * * *
San Francisco
Inflation held below the Fed's long-term forecast. The central bank's preferred price gauge, which is tied to consumer spending and strips out food and energy costs, rose at a 1.4 percent annual pace following a 1.2 percent increase in the prior quarter.
The GDP price gauge climbed at a 0.6 percent pace, less than the 1.3 percent median forecast of economists surveyed.
http://www.bloomberg.com/apps/news?pid=20601087&sid=acQASpga4OhM&pos=1
