FED SAYS INFLATION "FO GEDA BOUT IT"

I guess if you were worried about the money store closing, you can now rest easy. "Party On Wayne"!


“The surge in commodity prices over the past year appears to be largely attributable to a combination of rising global demand and disruptions in global supply,” Yellen said today in a speech in New York. “These developments seem unlikely to have persistent effects on consumer inflation or to derail the economic recovery and hence do not, in my view, warrant any substantial shift in the stance of monetary policy.”


Yellen used the word “elevated” four times in her speech in referring to the 8.8 percent jobless rate. She used “transitory” five times in referring to the effects of commodity prices on broader inflation, the same word the policy- setting Federal Open Market Committee used in its March 15 statement.


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