Nixon and his advisors thought inflation at 4% was serious enough to institute price controls. Headline inflation in the US is now 4.2%. What kind of economic policy should we pursue to bring inflation back into the Fed's comfort zone of 1-2%? Would it work and would it be worth the pain?

The end to the credit crunch is still not in sight, European Central Bank President, Jean-Claude Trichet and Warren Buffett warned on Monday.

"These are demanding times, challenging times... It is an ongoing, very significant market correction," Trichet told BBC radio in Britain.

The European Central Bank chief voices concern about the dollar after it hit record lows versus the euro today