Nariman Behravesh Both Quotations

The higher energy costs will put a squeeze on both businesses and households. They're spending so much on energy - the households on gasoline, the airlines on jet fuel, for example - that they'll have to curtail elsewhere.

Both growth and inflation in the coming months could be stronger than financial markets are currently expecting. There is a growing risk that the Fed will have to tighten further and longer than many analysts anticipate.