Clearly the Fed's main eye is on inflation. They are more worried about inflation because they view the setback to economic growth as temporary.
More Quotes from Stuart Hoffman:
People's wages are going up, but they are not keeping up with inflation.Stuart Hoffman
I think the Fed will look at the core number and determine that it was understated, and still raise rates by a quarter-percentage point at the meeting on November 1.
Stuart Hoffman
The CPI captured the center stage as it's the biggest one-month increase in 25 years, ... We certainly know why, with energy prices having skyrocketed.
Stuart Hoffman
Health care savings accounts don't tackle the problem of rising health care costs. This is not an attempt to rein in the cost of health care. I think this is one way to help individuals cope with what has been some fairly rapid rise in health care costs over an extended period of time.
Stuart Hoffman
The bottom line is it is a very solid report, but with continued inflationary pressure building up, it will make it easy for the Fed to conclude (Tuesday's meeting) with a quarter-point increase,
Stuart Hoffman
The first half of the decade has not been good for Pittsburgh and Southwestern Pennsylvania in the sense of economic growth. But for this year, I believe we have turned the corner.
Stuart Hoffman
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