Peter Hooper Quotes
Consumer spending has been surprisingly resilient, and I don't expect any kind of a drop-off. But, at the same time, this is a softer report than we've been expecting, given retail sales in April.
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The risk that labor costs will begin to make their way through to higher core inflation if the labor market continues to tighten is one key factor making many (Fed policy makers) uneasy about a course change in policy any time soon.
- Peter Hooper
