Consumers, Not Stocks, Will Feel Inflation’s Pain First

Amid a bounce back in manufacturing activity, surging commodity prices are leading to fears of inflationary forces. Those forces are real, but corporate profits — and therefore, stock prices — won’t suffer too quickly. The pa…

Why Gold Has Been Knocked Off Its Highs

Friday’s action notwithstanding, in which gold prices rose as the stock market sold off, safe-haven assets are suffering at the expensive of equities and other riskier assets. That’s what happens when the global economy appears…

Will the Fed’s New Hawks Force a Change of Course?

While most analysts don’t expect a major departure from the December Fed meeting, the voting lineup has changed substantially. Now, Chairman Bernanke has to deal with three new members of the rate-setting committee who have exp…