The inflation numbers are really good. It's a very encouraging sign that consumers will be able to stretch their incomes a little bit further, and that bodes well for the economy going forward.

I think the headline number is a bit misleading. It doesn't suggest that the economy is in trouble. Consumer durables production is looking solid, so it's looking like there's still going to be strong first quarter GDP growth.

Overall, confidence is still at a healthy level, up from where it was a year ago, but we did pull back a bit from the three-year high that we saw in June.

We're still weak compared to where we were a year ago, but people are a little bit more optimistic about the future,

It just looks like manufacturing in the Midwest cooled off a bit in January, but remained healthy.