The Dispersion of Consumer Expectations of Inflation

The market is looking at, depending on the time frame, the market is looking out a certain amount of months or quarters and saying, okay, inflation should moderate. And I think that's probably true. Consumer sentiment is very fickle. You could literally survey consumers on the first of the month and get a completely different reading because something had happened in between. So it really does matter on your perspective. It does go to show though that consumers are feeling the pain of this and it's also necessary to do something about it.