Chris Rupkey Prices Quotations

While it sounds as if most members see that the series of rate hikes since June 2004 is close to the end, it's not over until the economy slows. The minutes are a little past their stale date. Commodity prices are soaring.

The selling abated, prices stabilized and people decided the path of least resistance is up.

Prices received rising so much is the first sign that businesses have increased power to pass on these energy-price increases. Energy will shortly be a major factor in the inflation equation, and this is what the Fed is worried about, so expect policy makers to keep pushing interest rates higher.

As far as energy prices and core consumer prices, so far it is all smoke and no fire. Rising energy costs have not yet fed into the costs of other goods, despite many anecdotal signs that prices are being impacted.

It may be just a matter of time before the public's inflation expectations start to rise. Commodity prices are soaring.

consumer spending has not been dented by the hurricane-inspired rise in gasoline prices and fears of higher home heating oil bills.

Is the soft-patch bond rally over? It's a tough call, but we don't think so, as the reasons for the soft patch, rising gasoline prices at the pump, are still there.

Higher energy prices are not providing any big headwinds for the economy and inflation remains very contained,