The Federal Reserve should raise interest rates because inflationary pressures are greater than most policymakers admit, and the economy is nearing full employment.
Seniors won't get a boost in their Social Security checks this year because consumer prices for urban wage earners — the measure the government uses to adjust those payments — fell from the third quarter of 2014 to 2015. However, that's largely because oil fell from over $100 a barrel to less than $50, pulling down retail prices for gasoline, home heating oil and related commodities.
Remove energy prices, and the broader, all-urban Consumer Price Index commonly used to measure inflation is up nearly 1.9...
The Federal Reserve building in Washington D.C.