Mortgage & Loan: Bad Rate Rising

For those of you with home equity or credit card loans that were hoping for a pause in interest rate hikes, you may be SOL:

"We may face more inflation pressure than currently shows up in formal data," Poole said, emphasizing that his objective was "to make a general point and not to conduct a full analysis of the current situation."

He also said that the views expressed in his speech were his own and "do not necessarily reflect official positions of the Federal Reserve system."

Heh. Let's see how quickly the market reacts to that little dismissal of responsibility, eh?

Too many business writers and analysts just take it on faith that inflation must be contained in order to ensure strong purchasing power of the dollar. Read this comprehensive Wiki definition of inflation and decide for yourself if it's a worthy cause or not.

Posted at June 16, 2006 12:16 PM

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For those of you with home equity or credit card loans that were hoping for a pause in interest rate hikes, you may be SOL: "We may face more inflation pressure than currently shows up in formal data," Poole said, emphasizing that his objective was "to make a general point and not to conduct a full analysis of the current situation." He also said that the views expressed in his speech were his own and "do not necessarily reflect official positions of the Federal Reserve system." Heh. Let's see how quickly the market reacts to that little dismissal of responsibility, eh? Too many business writers and analysts just take it on faith that inflation must be contained in order to ensure strong purchasing power of the dollar. Read this comprehensive Wiki definition of inflation and decide for yourself if it's a worthy cause or not.