Prices received rising so much is the first sign that businesses have increased power to pass on these energy-price increases. Energy will shortly be a major factor in the inflation equation, and this is what the Fed is worried about, so expect policy makers to keep pushing interest rates higher.
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consumer spending has not been dented by the hurricane-inspired rise in gasoline prices and fears of higher home heating oil bills.Chris Rupkey
The Fed is still going to be on guard in terms of monitoring inflationary pressures, but this has to be good news today.
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The markets were prepared for Greenspan to end his final meeting with the funds rate at neutral. What they got instead is the statement that rate hikes still 'may be needed.' This was not music to the market's ears.
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Stock losses are giving bonds some juice this morning we're back to feeling that the economy is weak and that bonds are a buy here.
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It may be just a matter of time before the public's inflation expectations start to rise. Commodity prices are soaring.
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