Sorry this is so late. I have no excuse. But for those of you who have been waiting - my inflation projection for 2008 is 4.5% as a target and 4.18% to 5.143% as a narrow range with 3.1% to 6.17% as a broad range.
Again the wide position of the broad range represents the potential for increased volatility in global markets, however this is offset by the relatively narrow spread of the narrow range. This indicates the potential for increased stability in local or national economies. This seems to indicate that the U.S. economy will turn around in some areas over the course of the next 6 to 8 months and recessionary pressure in those areas will ease.
