Is it time for another appraisal or can we wait now that inflation has eased?
The figures added to a growing pool of economic data showing that inflation is easing.
Inflation eased to 3.8 percent, from 3.9 percent in June.
Inflation has been easing, and that gave the Fed the room it needed earlier this month to lower short-term interest rates.
Although inflation eased somewhat in 1985 and 1986, it remained one of the primary problems facing economic policy makers.
Bond traders paid attention to his remark that inflation was "very clearly easing."
Inflation eased in June, with consumer prices rising only two-tenths of 1 percent.
Declining producer prices send another strong signal that inflation is easing throughout the economy.
Stocks advanced modestly, helped by a sense of relief that inflation had eased.
More recently, most investors expected bond prices to resume their placid nature once inflation eased.