No Inflation
04/15/2011 | | Bernanke, econ70.com, Ellio't Brief Blog, Elvis, Graphsandlaughs.net, Inflation, labor market, Lack of Inflation, Wage Increases
Bernanke and a majority of Fed officials predict that the surge in oil prices will lead only to a modest and short-lived increase in consumer prices as firms will have a very tough time passing cost increases on to consumers as slack in the labor market keeps wage increases to a minimum. Thus, inflation is playing the role of Elvis – plenty of possible citings, none confirmed.