A lot of people pay for gas on their credit cards. Then, next month, when they get the bill, all of a sudden they're paying another 100 bucks for gas, and they have to make an adjustment.
More Quotes from Peter Morici:
Even in North America, (Toyota's) factory labor costs are lower because it pays a bit less for labor and is not encumbered by excessive benefit costs.Peter Morici
Clearly, inflation poses no real threat, but overly aggressive Fed interest-rate policy could torpedo the economic expansion.
Peter Morici
The debt limit will be raised no one expects otherwise. The problem here is Congress reconvenes around mid-January, and it isn't a lot of time they have to get this done. But they'll get it done.
Peter Morici
This situation is likely to become worse in the months ahead.
Peter Morici
If there's a prolonged labor stoppage, people won't be wanting to buy their cars again. They'll think the company might not be there to honor the warranty.
Peter Morici
This moderate wage growth should dispel any notions the Fed may hold (that) labor markets and spiraling wages could reignite inflation.
Peter Morici
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