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Inflation — Fed ‘Mission Accomplished?’

Posted By Barry Ritholtz On April 17, 2004 @ 10:44 am In Finance | Comments Disabled

Jim Picerno has a good post on inflation over at The Capital Spectator [1] (MONEY, OIL, ECONOMICS & THE SEARCH FOR THE BOTTOM LINE):

“In the meantime, the Fed forges ahead with its inflationary quest. CPI is rising at an annual rate of 1.7% as of last month while Fed funds remain at 1%. Although Poole hasn’t commented on this yawning gap, he has at least stated his strategic beliefs on how a central bank, in theory, should act: “Of critical importance to maintaining low and stable inflation is the FOMC’s commitment to act aggressively when inflation risks change, either up or down,” he said last week, according to Reuters. [2]

Don’t let the dismissive commodity statement fool you.”

Jim is an editor at Bloomberg, and has a wealth of experience with all things economic. If you haven’t already, you should put The Capital Spectator [3] on your regular econo circuit ride.


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2004/04/inflation-fed-mission-accomplished/

URLs in this post:

[1] The Capital Spectator: http://caps.blogspot.com/2004_04_14_caps_archive.html#108194843820685968

[2] Reuters.: http://www.reuters.com/financeNewsArticle.jhtml?type=economicNews&storyID=4766058

[3] The Capital Spectator: http://caps.blogspot.com/

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