24/7 Wall St.
06-26-2008, 08:10 AM
24/7 Wall St. Daily News
The Fed sat still yesterday. It could not decide which was worse, inflation or the slowing economy. It tried to play Solomon and offered to cut the baby in two. It did not see that the mother that wanted the child most was the bearer of inflation. The European Central Bank sees things differently. Among its members the consensus seems to be that inflation is the more troubling problem. According to the FT, "Jean-Claude Trichet, the president of the European Central Bank, earlier expressed fresh concern about inflation and wage growth, strengthening expectations that the ECB would raise its main...http://feeds.feedburner.com/~f/typepad/RyNm?i=5nKyjI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=5nKyjI) http://feeds.feedburner.com/~f/typepad/RyNm?i=Zbzv9I</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Zbzv9I) http://feeds.feedburner.com/~f/typepad/RyNm?i=sCNiYi</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=sCNiYi)
complete story here... (http://www.247wallst.com/2008/06/as-european-cen.html)
The Fed sat still yesterday. It could not decide which was worse, inflation or the slowing economy. It tried to play Solomon and offered to cut the baby in two. It did not see that the mother that wanted the child most was the bearer of inflation. The European Central Bank sees things differently. Among its members the consensus seems to be that inflation is the more troubling problem. According to the FT, "Jean-Claude Trichet, the president of the European Central Bank, earlier expressed fresh concern about inflation and wage growth, strengthening expectations that the ECB would raise its main...http://feeds.feedburner.com/~f/typepad/RyNm?i=5nKyjI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=5nKyjI) http://feeds.feedburner.com/~f/typepad/RyNm?i=Zbzv9I</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Zbzv9I) http://feeds.feedburner.com/~f/typepad/RyNm?i=sCNiYi</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=sCNiYi)
complete story here... (http://www.247wallst.com/2008/06/as-european-cen.html)