Mark Vitner Below Quotations

The unemployment rate is likely to hang around 4.5 percent and finish the year somewhere near 4 percent. That would mean that North Carolina would be back in the familiar position of having an unemployment rate below that of the nation.

Recent trends show the price pressures are well contained, with the exception of oil, ... The core CPI rose at just a 1.8 percent annual rate over the past three months, which is slightly below the 1.9 percent year-to-year gain. That means the core CPI is unlikely to accelerate in the next few months and allows the Fed to continue its policy of just gradually pushing up interest rates.

There was a huge sign of relief when the number came in above 100, and that's why the market rallied, ... There was a thought that the combination of rising interest rates and higher gas prices would knock it below 100.