The Economics of Money, Banking, and Financial Markets 10th Edition by Frederic Mishkin

Exercise 1

In the beginning of 2009, the Federal Open Market Committee warned in their statement dated January 28, 2009, that "… the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stability in the longer term." Go to research.stlouisfed.org/fred2/categories/9 and click on the Series ID link "CPIAUCSL" (Consumer Price Index for All Urban Consumers: All Items- SA). Then click on the link "% Chg. From Yr. Ago." What has happened to the inflation rate since the last reported figure in Table 16?