Wednesday, Jun 25, 2008
Rates on hold all summer?
Times: Fed leaves key rate unchanged at 2%
America's central bank kept interest rates on hold at 2 per cent for the first time in a year as it warned that inflation will continue to rise. The rate decision came as Warren Buffett, the billionaire investor, warned that inflation in America is "exploding" and urged the Federal Reserve to remember its dual role of both nurturing economic growth and keeping costs stable.
Posted by alan @ 11:02 PM (256 views) Add Comment
2 Comments
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1. tyrellcorporation said...
The big problem is that people in power have forgotten how bad systemic inflation is for an economy. Rampant short-termism I'm afraid.
2. Rentinginthesouth said...
Seems like all that tough talk from Bernake for tackling inflation was hot air!