"The next few weeks are going to be full of 'bias' , 'Beige Books', Polls of Consumer Confidence', new home sales, old home sales, auto sales, the number of babies being born, the number of men on Viagra, the number of people eating Cheerios, the spending habits of the Man in the Moon, the effect of the Eclipse as it affects the economy, the effect of the Eclipse in two years time all of these just to find any evidence, I mean any , a sniff, a slight taste, a tiny sound, a smidgen, a Quark's worth or the non-existent substance known as inflation."
We are ahead of schedule.
PBS tonight had a talking head who said over half of all items have had more than a 2 1/2% price increase over the last year, and that only commodities prices have dropped (due to a lack of international demand). And that as Asia and the developing countries recover so will commodity prices. So there.
How this correlates with a consensus (and pre-Fed action) 2.1% inflation rate forecast for the year 2000 went unstated.
Fred
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