There are some positive signs for Michigan’s economy even as other indicators signal an economic slowdown. That’s the word from Brian Long, Director of Supply Management at Grand Valley State University’s Seidman College of Business.
“The good news from this month’s report is many big ticket commodities like copper, steel, lead, zinc, oil, are continuing to dramatically fall in price. But unlike inflation in the past, industrial deflation does not easily spill over to the consumer market.”
Long believes the Federal Reserve is still going to have to raise interest rates considerably to control consumer inflation.
