CHICAGO: The US Federal Reserve and its chairman Ben Bernanke have already scored a monetary policy victory, weeks before they are due to meet again to decide the next step on interest rates.
Inflation expectations as reflected by yields on inflation protected government bonds been stable to lower this month, even in the face of a chilling read on monthly consumer prices for June. Yields are well below early May peaks, even as energy prices have stayed stubbornly high.
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