PIMCO's Bill Gross appeared on PBS's Nightly Business Report on June 17, 2008
Bill Gross discusses the difficulty that Fed Chairman Ben Bernanke is facing as he tries to curtail inflation while growing the economy. The global economy is making it difficult to set policy as there are many countries experiencing rapid economic expansion while the U.S. nears recessionary levels.
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Core CPI is an inflationary indicator that measures the change in the cost of a fixed basket of products and services, including housing, electricity, and transportation. Core CPI differs from the wider know CPI in that it excludes the volatile food and energy . Since food and energy prices are volatile, the "core CPI" is thought to be a more accurate measure of underlying inflation. The Producer Price Index (PPI) is an unmanaged index representing the rate of inflation of US producer prices as determined by the US Department of Labor Statistics. There can be no guarantee that the PPI or other indexes will reflect the exact level of inflation at any given time. The target federal funds rate is the interest rate published by the Federal Open-Market Committee (FOMC) of the Federal Reserve Board as a target for overnight, inter-bank loans. The rate is a leading economic indicator of interest rate movements and Federal Reserve monetary policies.
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