-
In the US economy, the moment we've all been waiting for may already be gone
Since the worst of the financial crisis has passed, those watching the markets and the economy have been waiting for one thing: inflation. And at least one economist thinks inflation might already be here. So far, of course, there's been no inflation to be found anywhere. "Core" inflation — which excludes the more volatile cost of food and gas — has been running at around 1.7% or so over the last couple years, below the Federal Reserve's 2% target. But looking at consumer prices isn't enough. What really needs to be in place for prices to take off are wages, which have also been more or less flat compared ... (full story)