Joshua Shapiro Inflation Quotations

Our own belief remains that while core inflation could well inch up in the coming months, it is unlikely to accelerate significantly.

We continue to expect the Fed funds target to reach 5 percent in the second quarter of next year, which is where we see the tightening process ending. Comments from Fed officials suggest that they expect only a temporary hit to growth from higher energy prices, while concern about a drift up in core inflation is increasing.

While this was obviously a good month, we don't expect this to continue. We think it's going to be a slow drift up in core inflation going forward.

Rumblings at the producer level will help keep Federal Reserve officials highly attuned to the inflation situation and will cause them to continue to tilt to the side of tighter policy.

There's not much to worry about as far as imported inflation is concerned. For as long as the dollar hangs in there, we should see a benign reading for import prices excluding fuels.

It sounds like he's sort of reaffirming what a lot of the Fed officials have been saying, which is that they are more worried about inflation than slowing growth,

The Fed isn't going to get exited about inflation in the labor market. At this stage they are focusing on core inflation at the consumer level and growth. Certainly, the news lately on the growth side has been quite good.