Such a rapid escalation in prices is sure to hit confidence and real spending hard.
More Quotes from Paul Ashworth:
Today's inflation figures will reinforce the belief that the Fed only has one or two more interest-rate hikes up its sleeve before it rests. The lack of any significant upward pressure on inflation should help persuade the Fed to raise rates no higher than 5 percent.Paul Ashworth
This will no doubt give protectionists in Congress some ammunition as the mid term elections approach.
Paul Ashworth
We previously feared growth could dip below 2 percent.
Paul Ashworth
It is not clear exactly why confidence is falling but it may have been dented by concerns over the cooling housing market. The contrast between the buoyancy of current economic conditions and caution over the future is now the sharpest since 911.
Paul Ashworth
He has been careful to address all possible concerns about his leadership in Congress, in financial markets and among his Fed colleagues.
Paul Ashworth
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