Remarks before the Charlotte Economics Club, Charlotte, N.C., October 4, 2007. ; "Those of us responsible for crafting U.S. monetary policy cannot afford to be distracted by the flux of short-term price changes that are destined to be unwound. Our eye should be focused on underlying inflationary...

Food prices have been rising rapidly over the past two years. In August 2008, aggregate food prices were 6.1 percent above their level in August 2007. Prices in August 2007 were already 4.8 percent above the level in August 2006. Because food purchases represent a larger portion of the...

Remarks before the Charlotte Economics Club, Charlotte, N.C., October 4, 2007. ; "Those of us responsible for crafting U.S. monetary policy cannot afford to be distracted by the flux of short-term price changes that are destined to be unwound. Our eye should be focused on underlying inflationary...

Commodities of all sorts have risen in price over the past few years. Some say that the prices reflect a bubble, driven by low interest rates and excessive speculation. Others say the price gains can be fully explained by supply and demand.

On the back of both a global food crisis and various domestic factors, Ethiopia has experienced one of the world’s fastest rates of food inflation in recent years. Yet the lack of high frequency survey data means that very little is known about the welfare impacts of these price changes....

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.

Inflation expectations have been of great interest to economists because they predict how agents in an economy set prices and react to changes in various macroeconomic variables. The existence of Keynesian liquidity traps in Japan and the United States have helped emphasize the importance of...