Chao Deng

Yeah.

And fortunately, energy prices, they were up 18 percent from a year earlier.

And within that, you have gas.

All Americans who drive know that gas was up 28 percent from a year earlier.

Airfare prices were up 21 percent.

It's really all about energy.

This report suggests that our economy is almost entering a new chapter where inflation appears to have stepped up.

And some of the analysts I was talking to today were talking about inflation at 4%, even 5% as the year goes on.

Families are having a harder time paying for things that even if their salary paychecks are going up, it's just not keeping up with inflation.

That reflects why consumers are constantly feeling so down about the economy.

President Trump has made it pretty clear that he expects interest rate cuts.

This is going to be very difficult for Kevin Warsh.

Investors started the year talking about potential rate cuts by the Fed, and this report pretty much takes that all off the table.

I think that the strong number from today is a glimmer of hope that it will become easier for those without a job to find a job.

That said, I think economists will probably want to see job gains for a few more months before they feel like conditions have really turned a page.

It's two months of strong data that we've seen.

So it's a little bit early to say that companies are shrugging off the Iran war or even completely shrugging off tariffs.

But businesses are seeing conditions stabilizing and they have weathered tariffs.

So some are hiring.

Yeah, very much so.