Originally published on Tue December 17, 2013 8:34 pm
That's the number the Federal Reserve Board's policymakers wanted to see this year. Having an annual inflation rate of 2 percent would confirm that the U.S. economy is strengthening — workers are getting raises and companies are seeing enough customer demand to mark up prices.
But the 2 percent target turned out to be too high.
Doctors talking up drugs to other doctors has been quite lucrative for pharmaceutical companies — and the physicians who moonlight as their salesmen.
Drugmakers learned long ago that deputized doctors were effective pitchmen. A doctor paid by a company to give a dinner speech or to chat over lunch with colleagues can go a long way toward changing their prescribing habits.