Federal Reserve officials indicated at their last meeting that they would need to raise interest rates soon unless there was more progress on bringing down inflation, minutes released Wednesday showed.
There's something telling in how the smart money on Wall Street has started to think about socialism. The moral of the story isn't really about socialism, though, but about the very real pain in store for American households from the bond market if the actually-in-charge capitalists don't get their act together.
Philadelphia Federal Reserve President Anna Paulson said Tuesday that she thinks the current level of interest rates is sufficient to keep inflation moving toward the central bank's goal.
