INFLATION HYSTERIA WAS FUN WHILE IT LASTED:

Oil in New York slid more than 5% after Federal Reserve Chair Jerome Powell said the strong U.S. economy may warrant ending the central bank's asset purchases sooner than planned next year. 

Central bankers should hold their nerve as they watch the global economic recovery slowing, imbalances persisting, and a stronger and longer-than-expected inflation surge cast a shadow over the outlook, the OECD said.

In its report on the world economy, the Paris-based organization said price gains will peak at the turn of the year as demand stabilizes, supply bottlenecks fade and people return to the labor force.

Tweet   @brothersjudd