CBS Evening News - 2006-06-14 (no intro)
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Read a transcript preview of “CBS Evening News - 2006-06-14 (no intro)” from malgent, uploaded on 2026-01-18.
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Language: English (original, YouTube automatic captions)
[0:00] began, the consumer price index went up
[0:02] 4/10 of 1% in May. That makes it all but
[0:05] certain that the Federal Reserve will
[0:07] soon raise interest rates again. To help
[0:10] us sort it out, we begin with business
[0:12] correspondent Anthony Mason.
[0:16] >> Bring it up. For the third straight
[0:18] month, prices are on the rise.
[0:20] >> Core inflation has picked up in the last
[0:23] 3 months.
[0:23] >> Up until that point, it was totally
[0:25] tame.
[0:26] >> Core inflation, everything we buy except
[0:28] food and energy, is now running at a
[0:30] 3.8% annual rate, the highest in more
[0:34] than a decade. Clothing prices are
[0:36] creeping up. So are healthcare costs.
[0:38] But the biggest jump last month was in
[0:40] housing rental prices.
[0:42] >> Because we've had increases in mortgage
[0:45] rates, the housing market has softened,
[0:47] and fewer people are now buying
[0:49] single-family homes.
[0:51] >> Now, obviously,
[0:52] uh the Fed is watching uh the signals
[0:55] for inflation very carefully.
[0:56] >> Ben Bernanke, the new Fed chairman, has
[0:59] promised to keep a close eye on
[1:00] inflation. The markets, in turn, are
[1:02] keeping a close eye on him.
[1:04] >> You've got a lot of analysts around the
[1:05] street. You've got a lot of news
[1:06] services, and they're analyzing every
[1:08] single thing he says.
[1:09] >> In April, Bernanke's remarks to a
[1:11] reporter about inflation sent stocks
[1:13] tumbling. He apologized to Congress.
[1:16] >> That episode you referred to was a lapse
[1:19] of judgment on my part.
[1:20] >> The handoff from Alan Greenspan hasn't
[1:22] always been smooth. After 18 years, the
[1:25] markets had learned to read Greenspan's
[1:27] signals.
[1:28] >> And now there's a new chief on board,