Make no mistake about it. Inflation is building in the pipeline. It is no longer a matter of if, but when, those price pressures will start to affect the general price level.
We gave back some ground because the data proved that the economic slowdown isn't necessarily a sure thing, ... If consumer confidence remains at near all-time highs, the economy will continue to expand.
For all intents and purposes the Fed is going to move at a measured pace whether that word is in there or not. And now, the longer end of the yield curve should react more to Fed moves.
The Fed is going to move at its gradual, measured pace because we've hit an oil-induced soft patch, ... Fifty-basis-point hikes are not right when the economy is skittish and market is jittery about oil.
Inflation pressures are rising, but at a subdued pace.