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News Link • Federal Reserve

Bernanke Blames Inflation on Inflationary Mindsets

• Megan Duffield,
Chairman of the Fed, Ben Bernanke expects us to believe that our mind power controls the way inflation fluctuates. A recent article in the Freeman Online Bernanke quoted Bernanke saying: “The state of inflation expectations [by the people] greatly influences actual inflation and thus the central bank’s ability to achieve price stability.” The author of the article has it right when he suggests that Bernanke is ass-backwards. When the Federal Reserve schedules their FOMC meetings, when they make public statements, and when Bernanke graces us with a press conference it is THE FED that is guiding the path of inflation. They release vague statements about the economy's improvement or lack thereof with an intent to guide Americans down a path of financial trust. For Bernanke to state that quantum physics contributes to the behavior of inflation (not that it may not exist) takes a huge burden off the central bank's shoulders, as well as, puts an unnecessary burden on the American pe

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