Higher prices still sting for many American consumers — and they probably will for a while longer, Federal Reserve Bank of San Francisco President Mary Daly told reporters Tuesday.  Though wages are now growing faster than inflation,

Michael Bordo and Mickey Levy document the 50-year history of the Shadow Open Market Committee and highlight the differences in its policy prescriptions with the Fed's.

Federal Reserve Bank of San Francisco President Mary Daly said on Tuesday that even with last month’s rate cut monetary policy is still working to bring inflation pressures down. The half percentage point cut in the federal funds rate target implemented in September was a “right-sizing” of the stance of interest rate policy,

Consumer prices rose 2.4% over the prior year in September, the lowest inflation reading in three years. The report follows employment figures that showed the unemployment rate down to 4.1%.