Still in the Woods: Jobless Claims, Inflation on the Rise

Initial state unemployment benefits claims rose 31,000 to 473,000 this week. (The expectation was a slight decrease to 430,000.) More troubling, gasoline rose 1.4% while food prices rose .4% after increasing 1.4% in December. With joblessness and inflation on the rise, many are begging the federal reserve to raise interest rates. However, they have projected no intent to do so.