If you plot the country's unemployment rates against its inflation rates, the result looks an awful lot like…JAPAN!
The University of Chicago economist will be India's Ben Bernanke, but the two men's challenges could not be more different.
It used to be that developing a new inflation measure for Social Security would boost benefits. That's no longer true.
If we had adopted chained CPI at the turn of the century, then a 2001 retiree would be getting $869 less in 2013.
Obama's budget will likely adopt chained CPI for Social Security and tax increases. Back in December, we explained what that means.
Chained CPI sounds technical and complicated. But it's really just a big benefit cut and a mild tax increase.
Today, the Bureau of Labor Statistics released the latest Consumer Product Index (CPI) numbers today, giving the most recent estimate of the rate of inflation. The short version: there isn't any.