Classifieds

Commentary
Financial markets reacted gleefully to the Labor Department's October consumer price index (CPI) release. It showed an extension of the modest relief from the terrifying figures of last spring.
Investors seemed to think that inflation pressures were dissipating and that perhaps the Federal Reserve (Fed) might ease up on raising interest rates and on its other counter-inflationary policies. The Dow Jones industrial stock index rallied some 1,200 points in a single trading session. If such thinking really stood behind the rally, then investors will likely face disappointment. The fact is that inflationary pressures, such as the nation has faced for more than a year now, do not dissipate quite so quickly....