Millennials: In Costco We Trust

When the latest CPI number came in hot at 0.4% for March and the annual core CPI inflation rate held at 3.8%, Betsey Stevenson, professor of economics at the University of Michigan appearing on CNBC’s Squawk Box said nonchalantly “Three percent inflation is no big deal.” The comment got a rise out of co-host Becky Quick who reminded the professor that the three percent was adding on to the already higher prices consumers continue to suffer with.