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The huge investments required to revive both would create more inflationary pressures.
But there are more inflationary pressures now than one would expect in a weak economy.
Higher grades at many schools may be more inflationary than at Harvard, with all its talent.
And he says he expects that in a more inflationary environment, shares in the retail sector should rise.
The unspoken intention was to raise the barrier for Southern European countries, which were seen as having looser, more inflationary economic policies.
At those levels, more inflationary pressure will be inevitable.To reduce the risk of a wage-price spiral, the labour market needs to calm down.
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Nonetheless, there are more reliable inflationary pressures at work, notably rising commodity prices.Equally important, inflation is not the only economic indicator that looked strong in March.
For example, he expects "a reduction in global trade and payment imbalances, the return of more pronounced inflationary pressures and a more diversified allocation of investible funds around the world".
Rate increases made by the bank, he said, "continue to aim at ensuring that upward pressure on consumer prices stemming from oil prices and the foreign exchange rate of the euro do not translate into more permanent inflationary tendencies".
Abstract: Recent results from the Planck satellite combined with earlier observations from WMAP, ACT, SPT and other experiments eliminate a wide spectrum of more complex inflationary models and favor models with a single scalar field, as reported by the Planck Collaboration.
Moreover at least until Katrina came along the rise in world oil prices has mainly reflected strong demand (partly due to robust growth in America) rather than a disruption of supply, and may therefore be a symptom of more general inflationary pressures.Stephen Roach, the chief economist at Morgan Stanley, worked at the Fed in the 1970s under the then chairman, Arthur Burns.
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CEO of Professional Science Editing for Scientists @ prosciediting.com