Overall inflation is under control and should moderate as we move through the summer.
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The trade deficit exceeds 6 of gross domestic product and is weighing down economic growth.Peter Morici
As long as housing prices don't go down, consumers have more equity they can borrow against. If mortgage rates go up another 1.25 or 1.5 percent and pierce 7 percent -- watch out. That's when the housing bubble bursts and consumers would cut back on spending a lot.
Peter Morici
These inflation data, along with slowdowns in retail sales and jobs creation, indicate the economy is cooling, except for the red-hot housing sector and recession-proof activities like health care and education, ... But don't look for the Fed to halt interest rate increases anytime soon. The recovery has plenty of life left.
Peter Morici
GM's 'employee discount' promotion established GM can sell vehicles if it sets prices at what consumers are willing to pay and makes those prices clear. Unfortunately, the public is not willing to pay what it costs to make GM cars and trucks.
Peter Morici
Look for the Fed to increase rates another quarter point next week, but don't assume it will continue raising rates all the way to 3.5 percent. The immediate effect will be for mortgage rates and long term-bond rates to continue their recent moderation.
Peter Morici
This situation is likely to become worse in the months ahead.
Peter Morici
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