Stagflation cross-windsBY MARK STORY | FRIDAY, 7 MAR 2008 12:32PMCutting growth forecasts (due to looming recession) in one breath while raising inflation forecasts in the next: It's this painful mix of announcements by the Federal Reserve (the Fed) - amid rising producer prices, falling consumer confidence and sharply lower house prices - that's got economists speculating over the US heading for 1970s-style stagflation. |
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Blake Briggs
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