With costs skyrocketing, this presents major problems for the Federal Reserve. If they lower rates too much, they can add to the inflation difficulties. If they don't take action or increase rates, then you have a credit problem. This is all the doing of Bush, the GOP and Mr Bubble who have left us with this headache.
The Labor Department reported that wholesale inflation was up 6.3 percent for all of 2007, reflecting a huge increase for the year in various types of energy costs ranging from gasoline to home heating oil.What is bizarre is that "core inflation" was steady last year at 2% so as long as you don't purchase food or energy, you'll be fine. If you do, well, good luck keeping up.
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