Yesterday's article from Reuters indicates two voting members of the Federal Open Market Committee warned that interest rate increases may be needed to curb inflationary concerns "even in the face of an anemic economic scenario" in the words of Dallas Fed President Richard Fisher.
So, if you love these low rates you're getting on your line of credit or hate these low rates you're getting on your savings and CD's, get ready for things to possibly change.
The article goes on to say "Central bank officials have expressed concern recently that the United States faces a hint of stagflation, the damaging combination of weak growth and wage-price spiral that hit the economy in the late 1970s and early 1980s, also at a time of rapidly rising oil prices."
"Some forecasters fear that the United States faces a "double-dip" slowdown, with growth likely to pick up in the next few quarters on the back of the stimulus package, before fading again in late 2008 or early 2009."
If you'd like to read the article, here is the link to CNBC's copy: http://www.cnbc.com/id/24864641
GOOD NEWS!!: Okay, here's your dose of good news for the day. . . Crude oil dropped about $4.49 to $126.54 and seemed to hold steady at this price range today.
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