The economy has shown tremendous resilience in the face of energy prices so far. But this latest spike will have a noticeable effect in the next couple of months.

This doesn't look like an economy that's rolling over. This looks like an economy that has shown resilience and continues to move ahead.

The negative impact associated with the energy shock will be more evident in the fourth quarter even though it hit in September.

This is great news on the inflation front. It will be very difficult for the economy to generate any sustained rise in core inflation with unit labor costs showing such a high degree of restraint.

I want to talk about jobs, the economy, foreclosures. I want to talk about energy prices.

This continuing spike in gas prices is bad for consumers, bad for our economy, and bad for all other businesses. It is hurting us and costing us jobs.