There's evidence that inflation isn't a problem and some anecdotal evidence that the economy is slowing, but I think we'll have to wait and see the employment report.

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Higher mortgage rates that we have witnessed over the last six months are starting to temper demand for the housing sector.

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Something in-between is probably where we are. While the economy remains weak, inflation will gradually grind down. When the economy picks up, it's unlikely then that inflation will grind down further.

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