Free Republic

This week in a press conference, Treasury Secretary Janet Yellen stated that the U.S. economy is doing exceptionally well. "As I mentioned, the United States is doing extremely well economically, with inflation coming down in a strong labor market, and Europe is doing better than was feared at our last meeting." Contrast this to what real Americans think. In a recent IBD/TIPP Poll, over one-half (55%) believe the economy is in a recession, and another 56% (57% in March) think the economy is not improving. We welcome any good news. We always take Yellen's pronouncements with a pinch of salt....

WASHINGTON (AP) -- Consumer prices in August posted the first monthly decline in nearly two years as Americans finally get a break from surging energy prices. The Labor Department reported Tuesday that consumer prices edged down 0.1 percent last month, a significant improvement from a 1.1 percent price spike in June and a 0.8 percent rise in July. The cost of gasoline and other fuels have plunged, reflecting big drops in crude oil prices.