Stagflation ?

Yesterday’s economic news was at best a mixed bag, with indicators all dropping, but not as much as analysts expected.  Stocks rallied a bit on the news, picking up about 1% — but don’t expect that to last.  Today’s news was all bad, starting with news that consumer inflation has reached a three-year high without any evidence of economic strength:

http://hotair.com/archives/2011/06/15/inflation-rises-to-highest-level-in-3-years-key-manufacturing-index-goes-negative/

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