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Officials of the Federal Reserve will meet March 18, and analysts expect them to cut interest rates for the sixth time since September. The goal: Keep a sluggish economy growing amid a housing downturn and a credit crunch. But a report from the Labor Department late last month complicated this strategy: Consumer prices rose 4.3 percent during 2007, and many economists say Fed chairman Ben Bernanke's continuing rate cuts will lead to more price hikes in the future. "They are cutting rates with a bill to be paid later," economist John Ryding of Bear Stearns told The New York Times. "The question is not, will we get inflation, but how much will it cost to stuff the genie back in the bottle."

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March 08, 2008, Vol. 23, No. 5

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