After producer prices came in higher than expected last Friday, investors are especially alert for evidence that the economy's expansion is reviving inflation.
Some economists fear that a tight labor market will revive inflation, which has been absent through seven years of economic expansion.
Traders are also reckoning with the odds that a Clinton Presidential victory will bring more Federal spending to stimulate the economy, reviving inflation in the process.
A falling dollar makes it more expensive for Americans to travel abroad and risks reviving inflation and sending interest rates higher in the United States.
Bill Clinton has promised stimulus, and that always holds the risk of reviving inflation.
The unexpectedly large sales gains sent tremors through the credit market, which fears that too rapid a recovery will revive inflation.
While the Fed might see that strong economy as a threat to reviving inflation, they recognize that's not much of a risk right now.
With little fear of reviving inflation, the Fed's overriding goal this year has been to encourage people and business to borrow and spend more.
The Bundesbank is determined to keep the costs of German unification from reviving inflation and eroding the value of the currency.
Most analysts think the economy can only sustain a "speed limit" of 2.5 percent or less without reviving inflation.