It's consistent with a higher first-quarter GDP.
More Quotes from Stuart Hoffman:
People drew some comfort in the smaller-than-expected core index, but I think the core is a bit deceptive.Stuart Hoffman
We've heard some disappointing reports about the final couple of weeks before the holidays, so we won't see as big of an increase in December, ... but when you combine November and December, this is about the best holiday season we've seen since 1999.
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
While energy prices are a major concern and price pressures are in the factory pipeline, business is still quite good.
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
At the same time, many retailers and the automakers have had good June numbers, despite the rise in oil prices (over the last month). Overall, there's some relief right now that the economy is indeed strong, but not overheating.
Stuart Hoffman
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