Saturday, October 6, 2007

Captain Obvious


The rising costs of food and energy prices probably represent “longer-lived trends, rather than transitory blips,” said Dallas Fed chief Richard Fisher yesterday. If by some unbelievable possibility that were to be true, “Arguments made for excluding food and energy prices” from core inflation “would be on shaky ground.” Incredible… Congratulations, Mr. Fisher… you’ve officially stated the obvious.

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