Posted AT 6:00 AM EST on 01/07/08
Consumer expectations more dangerous than inflation
Ben Bernanke is among a shrinking pool of people who still believe inflation is ebbing.
He and his colleagues on the U.S. Federal Reserve Board's interest-rate-setting open market committee said as much last week. As they left the central bank's key interest rate unchanged at 2 per cent – again – the committee said it “expects inflation to moderate later this year and next year.”
Really?
It's hard to see that scenario playing out.
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