Inflation Warning: Should the Fed Raise Interest Rates?

It's no surprise that prices are rising -- the question is whether the Fed will do something about it. As I pointed out in a Daily Finance article in October, prices of commodities -- including corn, wheat, and cotton -- have recently hit record levels. Demand from emerging markets is strong and increasing as China's 10% annual growth brings more of its 1.3 billion people from the countryside to the cities. And after a bad harvest, the volume of cotton to meet that demand is weak. Now clothing prices are expected to rise in the U.S. by 10% thanks to those record cotton prices. Winter gasoline prices are higher than they've been in years, and they could rise as the summer driving season...

Source:
http://article.wn.com/view/2011/02/15/Inflation_Warning_Should_the_Fed_Raise_Interest_Rates/

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