The employment numbers are pretty decent. But the concern I have is that two of the sectors showing the most strength construction and financial activities are very interest-rate sensitive.

If it stays at this level for about six months or so, you will see the prices of other products and services increase.

That's a huge revision. The economy of the Inland Empire is much stronger than they were originally reporting.

I don't think a lot will change right away.

Real estate is a big concern, and we're going to have to watch it carefully.

We already know the number of permits drawn by builders has decreased and is going to continue to decline because of the cool-down in the housing market. We won't need as many construction workers.