The View From 1776

The Fed Ignores Inflation at its Peril

Despite Chairman Bernanke’s optimism, inflation is not under control.

Everyone, from the Fed to Congress and the White House, is focused upon injecting liquidity into the economy to paper over the credit difficulties besetting the banking business and homeowners.

They are deceiving themselves and exacerbating the problem.

Jim Grant, in a New York Times op-ed article, sums it up admirably well.