"June’s big inflation number will ramp up scrutiny of price-related data as policymakers assess whether the economy is at greater risk of overheating."
The largest gain in the CPI in nearly 12 years reflects in part the comparison to extremely weak inflation a year ago amid pandemic lockdowns.
“It turns out it’s easier to put an economy into a coma than wake it up," one economist says.
With government relief checks and the accelerating vaccine rollout, "there is finally real light at the end of the tunnel."
Economists expect the rise in prices to continue into the summer, pushing inflation past the Federal Reserve’s 2% target.
“Overall, compensation costs are likely to remain subdued going forward, reflective of a high level of unemployment that will restrain wages."
The December jobs report shows "the economy’s not just tapping on the brakes, but actually has been thrown into reverse."
"At its core, the rule makes it easier to classify workers as independent contractors rather than employees."
Amid the surge in coronavirus infections, “We are increasingly worried that the monthly gains in consumption will be weaker."
“With the explosion in virus numbers putting downward pressure on demand in the short-term, we expect inflation to remain subdued for a while yet."
“We're only half dug out of our hole, and each month's pace of jobs growth has been slower than the last since July."
"Hanging around the 800k+ level is still not a good place to be, especially going into the winter."
