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BUSINESS
By Kevin G. Hall and Kevin G. Hall,McClatchy-Tribune | May 21, 2008
WASHINGTON - After a couple of months of calm, nervousness returned to financial markets yesterday. Stocks slumped after the government reported that a key indicator of inflation jumped sharply in April and the Federal Reserve's second-in-charge signaled that inflation remains a threat, making further interest rate cuts unlikely. Adding to the gloom, oil prices closed above $129 a barrel for the first time - ahead of this weekend's start of the summer driving season. The day's events stood in contrast to the optimistic picture painted by the Bush administration only Monday, when Treasury Secretary Henry M. Paulson Jr. told the president that the worst seemed over for the slumping U.S. economy.
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NEWS
By Jay Hancock | June 26, 2011
Ben Bernanke and the Federal Reserve voted to stand pat last week, ending the most shocking escalation of monetary firepower the country has ever seen. Reality kept the Fed chairman from landing on an aircraft carrier and declaring mission accomplished. The Fed's goals include "maximum employment. " Nobody considers 14 million jobless Americans — 9 percent of the workforce — maximum employment. In any case it's too early to analyze what Ben hath wrought, for better or worse.
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BUSINESS
By McClatchy-Tribune | June 14, 2008
WASHINGTON - Soaring energy prices punished ordinary Americans in May, triggering the highest run-up in inflation in six months and exceeding the expectations of economic forecasters, the government reported yesterday. Consumer prices rose 0.6 percent, as measured by the Labor Department's Consumer-Price Index. Prices have risen by 4.2 percent, slightly above the 4.1 percent rise in prices for last year. Those annual numbers reflect the rise in all prices across the economy, and don't necessarily capture the pain that many Americans are feeling at the cash register.
NEWS
July 13, 2008
Cigar sale limit aids public health Congratulations to Sun reporter John Fritze for responding quickly and thoroughly to the inexplicable letter sent by a lawyer in the comptroller's office in opposition to Baltimore's proposed regulation limiting the sale of cheap cigars to packages of at least five ("Cigar letter called error," July 8). And thanks to The Sun for again expressing support for statewide legislation designed to decrease the use of cheap cigars in our community ("Smoking memo," editorial, July 10)
BUSINESS
By New York Times News Service | March 18, 1993
WASHINGTON -- Consumer prices climbed a moderate 0.3 percent in February, the Labor Department reported yesterday, but "core" inflation was an unnerving 0.5 percent for the second straight month.Analysts viewed the results, combined with Friday's report of the biggest jump for producer prices in two years, as solid evidence that inflation was no longer on the wane."I think we've troughed out," said Alan C. Lerner of the Bankers Trust Co., referring to an inflation rate that retreated from 6.1 percent in 1990 to 3.1 percent in 1991 and to 2.9 percent last year.
BUSINESS
By MARKETWATCH | April 20, 2006
WASHINGTON -- U.S. core inflation rose at the fastest pace in a year in March, the Labor Department said yesterday, rekindling expectations that the Federal Reserve might have to raise interest rates a few more times. The core Consumer Price Index - the measure of retail-level inflation that excludes food and energy prices - increased 0.3 percent last month, matching the March 2005 gain. Overall, consumer prices rose 0.4 percent in March, led by higher energy prices. The increases in both the Consumer Price Index and core prices were above Wall Street expectations.
BUSINESS
By JAY HANCOCK | February 22, 2004
THE crummy employment market isn't the only thing casting doubt on President Bush's perception that "the economy is growing" and is "going to get stronger." The low-inflation alarm is still blaring, too, although most have stopped listening. Core inflation - the rise in consumer prices minus those for energy and food - was just 1.1 percent in January compared with the same month in 2003, according to a report Friday. That tied November and December for the smallest year-over-year increase in the core rate "since the Beatles were on the Ed Sullivan show," says Standard & Poor's economist David Wyss.
BUSINESS
By William Neikirk and William Neikirk,Chicago Tribune | November 29, 2006
WASHINGTON -- New signs appeared yesterday that the economy is stuck in a slowdown, but Federal Reserve Chairman Ben S. Bernanke made it clear he's more worried about inflation and is not prepared to cut interest rates anytime soon. The head of the nation's central bank said in a New York speech that the "core" inflation rate, which excludes food and energy costs, "remains uncomfortably high" and could even trigger an interest-rate increase if not brought under control. Over the next year, he said, the economy likely will pick up strength and grow at a modest but sustainable rate without further interest-rate reductions.
NEWS
By Jay Hancock | June 26, 2011
Ben Bernanke and the Federal Reserve voted to stand pat last week, ending the most shocking escalation of monetary firepower the country has ever seen. Reality kept the Fed chairman from landing on an aircraft carrier and declaring mission accomplished. The Fed's goals include "maximum employment. " Nobody considers 14 million jobless Americans — 9 percent of the workforce — maximum employment. In any case it's too early to analyze what Ben hath wrought, for better or worse.
BUSINESS
By Jay Hancock | January 26, 1997
THE ECONOMY, about to enter its seventh year of expansion, booked a good 1996 and showed signs of speeding up at the end of the year.Often this is just when the Federal Reserve starts tightening the money supply to prune inflationary sprouts. An accelerating economy, especially late in an expansion, is often fertile ground for price growth.A smaller money supply tends to cause higher interest rates, and last week's gyrations on Wall Street were driven in no small dose by fears of inflation and higher rates.
BUSINESS
By McClatchy-Tribune | June 14, 2008
WASHINGTON - Soaring energy prices punished ordinary Americans in May, triggering the highest run-up in inflation in six months and exceeding the expectations of economic forecasters, the government reported yesterday. Consumer prices rose 0.6 percent, as measured by the Labor Department's Consumer-Price Index. Prices have risen by 4.2 percent, slightly above the 4.1 percent rise in prices for last year. Those annual numbers reflect the rise in all prices across the economy, and don't necessarily capture the pain that many Americans are feeling at the cash register.
BUSINESS
By Kevin G. Hall and Kevin G. Hall,McClatchy-Tribune | May 21, 2008
WASHINGTON - After a couple of months of calm, nervousness returned to financial markets yesterday. Stocks slumped after the government reported that a key indicator of inflation jumped sharply in April and the Federal Reserve's second-in-charge signaled that inflation remains a threat, making further interest rate cuts unlikely. Adding to the gloom, oil prices closed above $129 a barrel for the first time - ahead of this weekend's start of the summer driving season. The day's events stood in contrast to the optimistic picture painted by the Bush administration only Monday, when Treasury Secretary Henry M. Paulson Jr. told the president that the worst seemed over for the slumping U.S. economy.
BUSINESS
By Joel Havemann and Joel Havemann,Los Angeles Times | February 1, 2007
WASHINGTON -- The economy roared back from a midyear slump by growing at an annual rate of 3.5 percent in the final three months of 2006, the government reported yesterday. The economy opened last year on a strong note, growing at a 5.6 percent pace, the fastest spurt in 2 1/2 years. But it lost steam to a 2.6 percent pace during the spring and declined to about 2 percent last summer. Nevertheless, inflation fell from an annual rate of 2.2 percent in the third quarter to 2.1 percent in the fourth quarter, the Commerce Department said.
BUSINESS
By William Neikirk and William Neikirk,Chicago Tribune | November 29, 2006
WASHINGTON -- New signs appeared yesterday that the economy is stuck in a slowdown, but Federal Reserve Chairman Ben S. Bernanke made it clear he's more worried about inflation and is not prepared to cut interest rates anytime soon. The head of the nation's central bank said in a New York speech that the "core" inflation rate, which excludes food and energy costs, "remains uncomfortably high" and could even trigger an interest-rate increase if not brought under control. Over the next year, he said, the economy likely will pick up strength and grow at a modest but sustainable rate without further interest-rate reductions.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | August 11, 2006
WASHINGTON -- In the cool and quiet marble corridors of the Federal Reserve, the strategy for taming inflation sounds painless, even soothing: a "soft landing" for the economy after several years of flying high. As the central bank contended Tuesday, when it decided to pause its two-year effort to raise interest rates, inflation is "elevated" right now but will begin to decline because economic growth is poised for a modest slowdown. Many economists, however, warn that a "soft landing" may seem anything but, and suggest that the Federal Reserve is either too rosy about the looming slowdown or naive about the difficulty of reaching its goal for inflation.
NEWS
By PAUL ADAMS and PAUL ADAMS,SUN REPORTER | April 25, 2006
When oil topped $35 a barrel for the first time just before the Iraq war, economists were sure the nation was in for soaring gas prices and a likely economic downturn. Now that oil costs more than twice that much, economists are just as nervous, and twice as confused. Instead of a recession, last fall's record rise in gas prices was followed by a quarter of spectacular U.S. economic growth, moderate inflation and unexpectedly strong job gains. That raises the question: Can the U.S. economy sustain $3-per-gallon gas indefinitely?
BUSINESS
By NEW YORK TIMES NEWS SERVICE | August 11, 2006
WASHINGTON -- In the cool and quiet marble corridors of the Federal Reserve, the strategy for taming inflation sounds painless, even soothing: a "soft landing" for the economy after several years of flying high. As the central bank contended Tuesday, when it decided to pause its two-year effort to raise interest rates, inflation is "elevated" right now but will begin to decline because economic growth is poised for a modest slowdown. Many economists, however, warn that a "soft landing" may seem anything but, and suggest that the Federal Reserve is either too rosy about the looming slowdown or naive about the difficulty of reaching its goal for inflation.
BUSINESS
By MARKETWATCH | April 20, 2006
WASHINGTON -- U.S. core inflation rose at the fastest pace in a year in March, the Labor Department said yesterday, rekindling expectations that the Federal Reserve might have to raise interest rates a few more times. The core Consumer Price Index - the measure of retail-level inflation that excludes food and energy prices - increased 0.3 percent last month, matching the March 2005 gain. Overall, consumer prices rose 0.4 percent in March, led by higher energy prices. The increases in both the Consumer Price Index and core prices were above Wall Street expectations.
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