This is a much tougher monetary-policy environment than anything I experienced.
The notion of core pricing is fading in importance as: One, food prices driven by increased long-term demand for meat and milk rise with the growth of China and other developing countries, and as; Two, global oil supply peaks lower and sooner than had been contemplated earlier.
~ Alan Greenspan, former Federal Reserve Chairman , "How Inflation Hobbles the Fed," The Wall Street Journal, December 15, 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment