TRND - The 'Fairy Godmother' Temporarily Sprinkled The Wrong Fairy Dust

• Treasury Secretary Yellen is sticking to the Fed’s prediction that inflation will be “transitory.”.
• Wednesday’s ADP report created giddy expectations of one million or more total jobs created in April, counting all sectors, but the Labor Department reported on Friday that only 266,000 payroll jobs were created in April.
• The Commerce Department recently announced that household income soared 21.1% in March, due largely to the federal stimulus checks that were sent out. This was the largest monthly surge in household income ever recorded.
• The ISM manufacturing index hit a 37-year high in March, so it was expected to cool off in April, and it did, declining to 60.7 in April from an overheated 64.7 in March.

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