By Zahra Tayeb, Business Insider
David Rosenberg brushed off inflation fears again by pointing to falling lumber and natural gas prices.
The veteran economist has repeatedly dismissed inflation as a threat since late last year. He has argued that the upward pressure on consumer costs has now faded, saying it’s “in the rear-view mirror,” while forecasting the rate of price increases could cool down below 2% by the third quarter of 2023.
This time around, the Rosenberg Research president has seemingly mocked fears about consumer-price pressures by questioning their existence outright in a Monday tweet,
Inflation? Maybe in wages in 25% of the economy – the select low-skilled service sectors the Fed is focused on. Meanwhile, the likes of lumber and nat gas are quickly heading back to their cycle lows and both down more than -70% from the nearby peaks.
— David Rosenberg (@EconguyRosie) March 6, 2023
