Omer Esiner
Omer Esiner
consistent core disastrous economic energy far forecasts high impact katrina likely limited pass prices spot state sticks survey view york
So far (there has been) no pass through of high energy prices into core inflation. What sticks out most is that the New York state manufacturing survey was spot on with forecasts and not (as) disastrous as some had expected. That is consistent with the view that the economic impact of Katrina will likely be limited and temporary.