WASHINGTON (AP) — The best hiring market in five years should limit the damage from inflation and position the economy to thrive in the second half of the year.
Higher food and gas prices are threatening to slow growth this spring. But economists say the drag from inflation will likely be only temporary. Commodity prices are easing. Gas prices could follow in the weeks ahead.
"We are going to see the economy picking up steam," said Joel Naroff of Naroff Economic Advisors, who is among many economists who think gas prices will taper off. "Lower energy prices will give consumers more confidence to spend, and higher consumer spending will give businesses more confidence to hire and invest."
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