Falling energy costs pulled down U.S. consumer prices last month, but core inflation inched up and housing starts surged, according to data on Wednesday that bolstered expectations for a steady diet of interest-rate rises.
In addition, initial claims for jobless aid plummeted by 48,000 last week, the biggest drop in more than three years.
Analysts said the plunge in claims likely overstated the strength of the job market, but said the reports taken as a whole suggested the economy was on solid ground.
"The economy continues in a recovery mode ...
"Recovery mode"? It's been in "recovery mode" for years. When will they consider it to be in "chugging right along mode"?