The short-term case for inflation remains speculative, however the long-term trajectory for inflation appears to be on a glide path toward 5% or so per annum (assuming gold prices proxy inflation). Most economists would consider this level of inflationary pressure to be too high for stable economic growth. Nevertheless, inflation does not appear to be on the verge of overtaking the economy as some are suggesting, though fundamental indicators may tell a different story. If anything, gold prices appear likely to decline from current levels in the coming years. I suppose only time will tell...
The Course of Inflation II
The Course of Inflation III
Wednesday: Existing Home Sales, FOMC Minutes
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