A lack of positive price pressures is becoming an increasing threat to the credibility of the Federal Reserve. Some officials are now even calling for "direct evidence" of inflation moving back to the target 2% before the next rate hike can be administered. Even die-hard hawk James Bullard is now questioning the merits of further increases in interest rates in light of drooping inflation expectations. Meanwhile, hard data is likely to confirm that rising prices remained confined to the services side of the economy early on this year. Analysts are projecting the consumer price index to fall 0.1% in January, on top of ... (full story)