Donald L. Kohn, who is a governor with the Federal Reserve (and probably one of those economists who, if taken collectively and stacked end to end would be able to reach the moon but not a decision) said he'd be in favor of raising short-term interest rates if energy prices were to suddenly shoot up.
This would be a precautionary move by the Fed to control inflation. But, Kohn said (and this is the *!good news!*), inflation has remained very low--at a modest annual rate of just 2 percent so far--when you exclude what you pay for food and energy!
Let me just reread that for Dada, who's data challenged. Inflation is insignificant when economists take away what we pay for food and energy! Just further proof I suppose, economists consider Americans a bunch of goddamned, economically ignorant fools.
So there you go. Just stop cooling and fueling, heating and eating to keep inflation from taking a bite out of your....whatever.
On a less encouraging note, I read earlier in the week a government report saying we should all expect prices at the gas pump to continue to rise with the coming of summer. Prices are expected to go as high as "$2.68/gallon" the report said. Yesterday some local convenience stores were charging $2.72/gallon. Well, it must be fuckin' summer already!
This just overtook me sooo unexpectedly. I thought I had two more months to get down to my "swimsuit weight".