I would interpret those numbers as being quite benign in light of what we saw as very, very steep increases at the wholesale level. Very little of that wholesale price increase has leaked through to the consumer price level. That's testament to the pricing pressure across America at the retail level.
More Quotes from Richard DeKaser:
It's still a welcome number. It showed sustained labor conditions outside of the areas impacted by the two hurricanes.Richard DeKaser
When demand shifts, it often takes time for supply side to get in sync ... I would still expect some softening is likely in the cards in the Dayton area as we go through this year.
Richard DeKaser
slow, drawn-out affairs, taking an average of three years to play out.
Richard DeKaser
The apparent influence of White House economists has been quite small throughout the Bush administration, which hasn't changed much of late.
Richard DeKaser
I think the market is responding now to a perception of the increased possibility of recession, which I do not see.
Richard DeKaser
Consumers continue to persevere in a difficult environment in light of high oil prices. With prior revisions and trade (data) this is going to push Q3 GDP estimates closer to 4.0 percent.
Richard DeKaser
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