The Fed’s preferred measure of inflation is the year-over-year change in the price index for personal consumption expenditures, or PCE inflation. In December of last year, that figure stood at 1.2 percent. The most recent reading for July 2014 was 1.6 percent.
They may help to maintain a level playing field and to prevent a regulatory race to the bottom in policy fields that serve the whole of society. Therefore, I do not entirely follow Rodrik’s reasoning. Still, what I see as his most important message is that we should not artificially separate international economics from national or regional politics. 4.