U.S.: Good Bye, Endless Summer. Hello, Higher Rates?
It's crunch time in paradise. Wall Street's unusual volatility of late highlights a growing perception that the heavenly combination of strong growth, high profits, low unemployment, tame inflation, and a sidelined Federal Reserve has about run its course. The snake in this economic Eden is overly strong demand that is refocusing attention on the threat of higher inflation in 1998--and the Fed's possible preemptive response to it in coming months.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.