What's the recipe for a healthy modern economy?

Christopher Phelan warned against looking at recent price spikes too narrowly. "Not all prices are going up," he said, pointing out that Minnesota real estate prices dropped significantly in the last 12 months.

Kocherlakota Says Central Banks May Have to Back Fiscal Debt

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said it may be "optimal" for central banks to back government debts in certain situations, without referring to the U.S.