Fed Officials Upbeat On U.S. Recovery (Missing Blog #8)

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inflation: the general rise of price levels
Charles Plosser:  the president of the Federal Reserve Bank of Philadelphia
Charles Evans: president of the Chicago Fed
Ben Bernanke: Fed Chairman

Despite the economic crisis in Europe, the United States economy seems to be taking a positive upward trend. This observation comes from the apparent improvement in the United States labor market, which is a sign of steadier recovery. Although the economic recovery is notable, the inflation rate is still low and will remain so in order to maintain a level of stability. Many economic analysts predicted that the Fed would begin raising interest rates by the end of 2010, but because of the Europe economic crisis, the interest rates probably won't raise until 2011.

I agree with these predictions by the Federal Reserve System. All the major world nations have economic ties with each other, so when a country such as Europe is struggling economically, it has some sort of influence on other countries as well, such as the United States. However, the foreign ties will only have a minimal impact on America's economy and we will continue to see upward trends with occasional troughs.