Asks which piece of economic data mattered most this morning.
Tim Stenovec
Michael McKee
Most data is stale January data. The up-to-date Michigan Expectations survey shows sentiment turned negative starting March 1st after positive comments through February.
Asks if the Fed will look through a transitory energy price spike from the war.
Carol Massar
Michael McKee
The Fed is primed to look through oil price spikes as transitory; monetary policy can't change them. The concern is if energy inflation gets into other parts of the economy.
Asks how higher energy prices and war translate into normal consumer behavior.
Tim Stenovec
Michael McKee
People's income expectations are dropping. More money going into gas means less for discretionary spending, which can slow demand and the economy.
Asks what's important in next week's Fed commentary since no action is expected.
Carol Massar
Michael McKee
The dot plot and economic projections will be interesting but essentially a 'best guess' with an expiration date due to war uncertainty.