““I just see a continuation of rising prices for the average family,” at a time where the Fed is constructing policies to ward off what it sees as the threat of deflation, Sen. Bob Menendez, a New Jersey Democrat told Bernanke. When told by Bernanke that core inflation levels were quite low and Fed policies have helped the economy and lifted financial-asset prices, Menendez countered gruffly “I appreciate the market going up, we are all thrilled with that,” and added the average family “won’t tell you there’s deflation.”” Read more.
“Commodity-Price Gains Dog Bernanke’s Inflation”
Michael S. Derby
Wall Street Journal, March 1, 2011.
Image by Salvatore Vuono / FreeDigitalPhotos.net.