The Fed is still going to be on guard in terms of monitoring inflationary pressures, but this has to be good news today.
More Quotes from Chris Rupkey:
consumer spending has not been dented by the hurricane-inspired rise in gasoline prices and fears of higher home heating oil bills.Chris Rupkey
Prices received rising so much is the first sign that businesses have increased power to pass on these energy-price increases. Energy will shortly be a major factor in the inflation equation, and this is what the Fed is worried about, so expect policy makers to keep pushing interest rates higher.
Chris Rupkey
Manufacturing production in the entire country is running flat-out at the moment.
Chris Rupkey
Growth isn't fast enough that the Fed has to brake the economy, and at the same time it isn't slow enough that the Fed can stop and watch. Inflation pressures can still gain a foothold as the economy continues to take up slack resources.
Chris Rupkey
It may be just a matter of time before the public's inflation expectations start to rise. Commodity prices are soaring.
Chris Rupkey
They're not on the sidelines yet. The inflation pressures are immense at this stage of the business cycle.
Chris Rupkey
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