Another look at Kohn’s June 11th speech
June 20, 2008 at 08:35 AM EDT
[Skip to the end] This still reads hawkish to me: The results of such exercises imply that, over recent history, a sharp jump in oil prices appears to have had only modest effects on the future rate of inflation. This result likely reflects two factors. First, commodities like oil represent only a small share of the [...]