Fed Watches Oil Prices, Keeps Rates Steady

0:00On March 11th, here's the latest out of Durham. The latest consumer price index report shows inflation stayed steady in February, up just 2.4 percent from last year. Economists are praising the Federal Reserve for pulling off a soft landing and taming price hikes without tanking the economy. Oil prices are climbing right now, and that has experts watching closely. A Duke economics professor says the Fed will zero in on this during their meeting next week, since higher energy costs could push prices up everywhere, from the pump to the grocery store. Local business owners are already filling the squeeze. One restaurant owner in Raleigh says they're dealing with razor thin margins and skyrocketing power bills, but they have to keep lights on and customers happy no matter what. The Fed wraps up their meeting next week, and most economists expect interest rates to stay put for now. They're holding steady to see how things play out. Looking ahead, March and April consumer price index reports should give clearer signs on how rising oil prices tied to tensions overseas might shake.

1:05Things up. Thanks to our sponsor for supporting today's coverage. Some chase peace. I put my head in it. S-O-L-I-SOLY-PILO-DOT-COM.