Inflation costs have been pretty moderate, but we are expecting wage pressure to kick in by the end of the year.
More Quotes from John Shin:
The data are consistent with very gradual cooling in the housing market.John Shin
It's pretty funny how quickly sentiment can swing, but I think it's too soon for the Fed to pause (in raising rates). This morning's number keeps the Fed on track continuing 25 basis points (quarter-point) hikes.
John Shin
The Chicago number is generally more affected by the auto sector and you do have reports of lower auto sales down from July's gangbuster numbers,
John Shin
There will be some bigger fears about whether the bill for years and years of trade deficits is finally coming due. The outlook is for continued, big current-account deficits.
John Shin
While we still expect the housing market to cool gradually -- and the data over the past couple of quarters has been consistent with that view -- the February existing home sales number shows the considerable strength that is still in the residential sector.
John Shin
The index is noisy on a week-to-week basis, but it is painting a broad picture of a cooling housing market.
John Shin
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