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Inflation cat jumps out of the hat to stalk credit markets
Summary from multiple countries, from articles in English
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The stories this week about people hoarding rice at some big-box U.S. retailers had to send at least a slight chill up the spines of Federal Reserve policymakers. (article 2)
That's when inflation becomes self-fulfilling: " I need to stock up on X, because X will cost a lot more tomorrow. (article 2)
As inflation worsened, in part because of the first surge in oil prices in 1973, many consumers were gripped by fear of ever-rising prices. (article 2)
Other figures showed household spending in April was down 2.7% on the year before, which was much worse than a predicted fall of 0.9%. (article 3)
The annual rate of inflation slowed to 0.9% in April, but the decline was due to temporary suspension of a fuel tax. (article 3)
Market expectations that the next move in eurozone interest rates will be upwards imply too sanguine an outlook for economic growth in the region, says David Page (article 4)
Mr Page notes that the ECB clearly faces the predicament of controlling medium-term price stability in the face of growing evidence of an economic slowdown ahead. (article 4)
Cat H - as in house price declines - has already wreaked plenty of damage, through mortgage-backed securities and by dimming the prospects for economic growth in the US and beyond. (article 1)
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Other summaries about this story:
Event tracking:
Story keywords
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inflation, rates, Fed, Credit, markets |
Source articles
- Inflation cat jumps out of the hat to stalk credit markets (ft.com, 05/29/2008, 675 words)
- Inflation mentality on the Fed's mind (L.A. Times, 05/31/2008, 983 words)
- Downbeat data on Japan's economy (BBC News, 05/30/2008, 284 words)
- View of the day: Eurozone growth (ft.com, 05/29/2008, 226 words)
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blaster@cs.columbia.edu
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