News
Bloomberg | Euro Pares Drop Against Dollar as EU Officials Work on Greece Debt Crisis
The euro pared its decline against the dollar after reaching a three-week low amid speculation an agreement between the European Union and the International Monetary Fund may allow Greece to avoid a debt default.
CNN: Money | Fed could soon set inflation target
This should not be a big surprise. Recent comments by Fed members suggest policymakers are getting closer to the setting the kind of explicit inflation target used by many other central banks around the world. Fed Chairman Ben Bernanke is a long-time advocate of such a measure.
Market Watch | U.S. consumer prices climb 0.2% in May
The price of consumer goods rose in May as the cost of food, clothing, autos and housing all accelerated, offsetting the first drop in energy prices in 11 months.
Econ Comments
Market Watch | Fed boxed in as U.S. slouches toward stagflation
With the economy softening in the past few months and inflation accelerating, you hear a lot of talk about stagflation — that ugly combination of low growth and high inflation that plagued the economy for much of the 1970s and early 1980s.
Blogs
WSJ | Worry About Growth or Inflation, Not Both
The underlying inflation rate has moved substantially higher in recent months, but worries about its direction in coming months should be based on a consistent economic story.
Reports
RCM: Wells Fargo | CPI: Core Inflation Strengthens in May
While the drop in gasoline prices restrained the headline’s 0.2 percent gain, core CPI increased a stronger-than-expected 0.3 percent in May. Inflation continues to eat into consumers’ purchasing power.
