While wages didn't rise exceedingly rapidly, the low (jobless) rate is a warning that labor costs are probably going to increase further.
More Quotes from Joel Naroff:
The huge increases at apparel and general merchandise stores are eye-opening. You would think people had nothing to do but get to the malls.Joel Naroff
When energy costs stop falling, we may not be looking at such wonderful numbers, ... For now, the Fed can push inflation into the background. But when the economy is back up and running, they may want to revisit the 'inflation is licked' thing.
Joel Naroff
They're giving a few more dollars to people who have home equity credit lines, which is really about the only place left where the Fed is helping. We're really not talking about a whole lot of impact.
Joel Naroff
All those speculators who had a great thing going for a couple of years have begun to bail out. The demand is dropping and supply is rising. Unless something happens soon to correct the supplydemand imbalance, prices are likely to decline in the near future.
Joel Naroff
Almost all the intermediate level goods are rising, and rising sharply. Commodity prices are on the rise, there is no doubt about that. Finally, at the crude level, just about everything is increasing, ... This is not that tame a report.
Joel Naroff
Any way you cut it, inflation was not well contained in March.
Joel Naroff
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