Something must be up on interest rates today. Yellin raised a bit ago and I figure it was a move to keep China buying our bonds. 'Round here I don't see the economy doing that well. Now the Federal Reserve is caught. They can't raise anymore but they must for our debt burden.
Yes they are on both counts you raised. Iran is coming on stream with their exports. Banks around the world continue to lower interest rates while we start to raise ours. Something is going to have to give. I am still in the camp of deflation.