Wholesale inflation takes biggest jump in 6 months
Wholesale inflation takes biggest jump in 6 months - Yahoo! Finance
Quoted from article:
(Federal Reserve Chairman Ben Bernanke told an audience at the National Press Club on Wednesday that he saw little risk that the Fed's efforts to fight the recession and a severe financial crisis would trigger inflation presusres.
He said that once the economy begins to rebound and financial markets stabilize, the Fed will be able to quickly reverse the actions it has taken before inflation becomes a problem.)
This guy is an absolute dunderhead.
Inflation affects everyone and has been a permanent problem ever since the US withdrew from the Gold Standard.
If he does not realize this then he has absolutely no business being in the job he currently holds.
Re: Wholesale inflation takes biggest jump in 6 months
Inflation is part of any modern economy. The point is not to eliminate it, but to keep it at acceptable levels. Returning to the gold standard is a fantasy. Though, given the way the world economy is right now, I would start buying gold bullion!