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The stock market is up on the 2008 revised second quarter GDP growth numbers just released. They show growth at 3.3% versus the original estimate of 1.9%. These numbers will not hold.

Think it's just the Fed that is having trouble reconciling rising inflation and a weak economy? Europe is having the same debate with some believing rates should rise and others feeling it should fall. The outcome is important to the US since European rates impact the Euro/Dollar exchange rate.

The economy may be poised to get from bad to worse.

Two Nobel Laureates of economics provide their perspective on Obama economic policy.

Speaking at the Kansas City Fed Bank's two-day conference on financial stability in Jackson Hole, Wyoming, Fed Chairman Ben Bernanke said the Fed will raise rates if needed to contain inflation.

Richard Fisher, the President of the Dallas Fed, discusses recession and inflation, using the analogy of a python to illustrate his point.

Michelle shouldn't be making such dumb statements.

In a note to his clients, Merrill Lynch's Richard Bernstein warned that the credit crisis is far from over and that financial companies have more hits to take.

Remember when a rebel firing a bullet in Nigeria caused the price of oil to jump $10 a barrel. Now, there's an all out way in Georgia and oil prices continue to drop. Something has changed.

One of the proponents of the commodities bubble says to go against it.

Larry Summers, former Treasury Secretary under Bill Clinton and former President of Harvard provides a grim view on the pressures facing the economy and the potential recover.

As expected the Federal Reserve kept the Federal Funds rate at 2%. The statement below continues to reflect their uncertainty on which way the economy is going - inflation or recession. Expect the Fed to do nothing until the wind breaks one way or the other.

The demand for corporate debt has plunged, forcing companies who want to raise debt money to either borrow from a bank or offer higher rates and other perks to potential investors.

Here's an example of an investment expert getting way ahead of himself. Mark Mobius, who oversees about $40 billion in emerging- market stocks as executive chairman at Templeton Asset Management Ltd. in Singapore thinks falling oil prices make it the right time for the Fed to drop rates.

Like all bubbles, this one has been led by cries of "its different this time." Is it?