Inflation Nation

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Here's the word on the street — Wall Street, Main street, maybe your street: the honeymoon is over for Federal Reserve Chief Ben Bernanke, and the wedding crasher is inflation. Consumers prices for the first five months of this year are pumping ahead at a 5.2 percent annual rate, compared to 3.4 for all of last year.

Inflation-phobics are raising alarm bells, pointing back to the inflation-plagued 1970s, when consumer prices spiked by more than 13 percent in a single year and mortgages were in the high teens. Now, some are calling the fear "unhinged" but consumers — looking at flat wages and spiking prices — are worried.

Hear about the inflation threat, and what it means for you and your finances.


Christopher Swann, US Economics Correspondent for the Financial Times

Allen Sinai, Chief Global Economist and Strategist at Decision Economics, a finance and economics advisory firm

Ian Morris, Chief US Economist, HSBC

This program aired on June 19, 2006.


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