June 15, 2004
STOP THEM BEFORE THEY KILL AGAIN:
U.S. Economy: May Core Consumer Prices Rise 0.2% (Bloomberg, 6/15/04)
Consumer prices excluding food and energy rose 0.2 percent in May, less than in April, suggesting the Federal Reserve won't have to rush increases in its benchmark interest rate to thwart inflation. Consumers gained confidence. [...]"Inflationary pressures are not likely to be a serious concern in the period ahead,'' Fed Chairman Alan Greenspan said to the Senate Banking Committee hearing to confirm him for a fifth term.
Posted by Orrin Judd at June 15, 2004 1:51 PM
Comments
The fact that Greenspan is qouted here instead of some of the other Fed governors lends hope that they won't be itching to raise rates soon. It also hopefully implies that Greenspan understands the increase in oil prices is probably temporary.
Posted by: AWW at June 15, 2004 4:29 PM