Luis Ortega

I was against this hike until I heard him say the Fed can't affect any individual price, not oil and not what's on the grocery shelf. What he's after is the second round, and I can watch that from my counter. Our flour distributor put a fuel surcharge on the invoice in the spring. I passed it on, and now my bakers need a raise just to stay even. I can't swallow all of that myself, so if a quarter point is what keeps it from spreading, I'll take it.

Everyone quotes the $100 oil. What reaches a bakery is diesel, which this episode says is climbing faster than crude because refined fuel is harder to get to market, and I pay it twice: in my van, and in every truck that brings me flour and butter.