AHHHHH!!!! (part 2)
By Glenn Somerville, Reuters
US Federal Reserve policy-makers noted "a discernible upcreep" in measures of inflation recently, raising worry that risks from accelerating prices were growing, minutes from their May 3 meeting showed.
"Core measures of price inflation had moved up over recent quarters and particularly so over the last few months," said the minutes from the
Federal Open Market Committee meeting, which were issued on Tuesday.
"A discernible upcreep was apparent in survey measures of short- and, to a limited extent, long-term inflation expectations over recent months," the minutes said. Some members saw both the risks of inflation increasing and of growth slowing but the committee agreed overall that the risks were roughly equally balanced.
Originally posted 2005-05-24 21:10:00.