Bernanke Gets Hawkish on Inflation

Core inflation, measured over the past three to six months, has reached a level that, if sustained, would be at or above the upper range that many economists, including myself, would consider consistent with price stability, said yesterday Ben Bernanke, the Czar of the Fed. Core inflation refers to the increase in prices other than those for food and energy. Price increases beyond the food-energy binominal represent a sign of inflation embedded economy.

(Read more in NY Times of today)