Inflation: Is the Worst Over?


By Michael Englund

In his testimony to the Joint Economic Committee (JEC) of Congress on June 9, Federal Reserve Chairman Alan Greenspan had some reassuring words for financial markets. The Fed chief said the economy is on "reasonably firm footing." And on another topic that has caused some anxiety on Wall Street, he noted that underlying inflation remains "contained."

But will two government reports scheduled for release the week of June 13 -- data on wholesale and consumer prices -- muddy the inflation waters before the Fed chief and the rest of the rate-setting Federal Open Market Committee (FOMC) meet on June 30?

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