Wholesale prices are rising at the fastest pace since 1981, according to an article in the Washington Post today.
The reasons are varied, but the cost of materials used by businesses increased by 1.2 percent in July, and the cost has risen 9.8 percent during the last year.
Basically wholesale inflation translates into higher consumer costs. So far the Fed has not reacted to recent inflation reports for fear that higher borrowing costs would further slow the economy.
TODAY'S THREAD
Should the Fed keep watching the inflation figures in the hope that things will turn around soon?
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FOR THOSE READERS WHO MISSED MY SUNDAY COLUMN REGARDING CORRUPTION IN PRESIDENTIAL
FOUNDATIONS AND CHARITIES RECENTLY, HERE'S THE LINK.
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1 comment:
Before total health care to everyone can be realized, a so-called "sea change" must take place not only in our country but throughout the world. In the end, we are our brothers' and sisters' keepers.
Also, with a nation starved financially because of too much debt and a lack of credit for those willing to create more jobs, prices will increase.
However, no matter what Americans suffer, we should be thankful we live in a country where opportunity avails itself, while in many other countries, total poverty claims many lives daily.
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