We are in favor of having the most accurate measure of inflation possible, in order to index those various programs, and we are trying to measure what the real cost-of-living changes are,

They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up.

The fresh hike could be a pre-emptive measure but we are surprised as we expect inflation to ease marginally in the coming weeks.

The economy is probably more hot than cold at this point. The inflation measure will be the one to watch because that will be one of the key determinants of whether the Fed hits the brakes or steps on the accelerator again.

The automatic stabilizer is unemployment insurance, food stamps, additional coverage of Medicaid.

It's going to be a very targeted tax cut program that I think is going to make a meaningful difference for American families,