For a few weeks in late January and early February the U.S. economy seemed to have reached a sweet spot. Inflation was steadily slowing and growth and hiring remained steady. But inflation resurged and with it fear the Fed might have to raise rates so high as to cause a recession. Retired Ripon College economist Paul Schoofs says the recent slight uptik in inflation reports is getting a bit of undue attention. The Fed has raised its benchmark rate eight times in the past year and Schoofs says he expects they will continue to do that for now. Schoofs says overall the economy remains strong with the number of people applying for unemployment benefits falling for a third straight week.
