PPI Tame; Where's the Inflation, Ben?

The producer price index (PPI) was up only 0.2% in May, which seems to be saying that inflation is still very much under control. While the CPI report comes out tomorrow, the rest of the market is screaming for Ben Bernanke to finish his rate-hiking campaign at the Fed.

Gold finished down another $43 to $567.50 today. Stocks and basic materials have gotten crushed over the past few weeks, signaling the market's thoughts about whether inflation or economic growth is the real concern. (Hint: it's not inflation.)

There's only one thing standing in the way of our economy - and hopefully, Bernanke will soon realize what the markets already have - that it's him.