We Just Saved The Fed Time and Money
This email from the Fed is laughable. The Federal Reserve formerly defined inflation as growth in the money supply not associated with productivity. The Fed changed the definition after it caused prices to spike in the late 1970’s. The cause of inflation is no great mystery. The Fed inflates the money supply to support its liberal monetary policies as well as to subsidize liberal fiscal policies. Inflating the money supply causes Dollar devaluation (i.e. price increases). Mystery solved.
The Fed views itself as essential to a properly functioning economy. Therein lies the problem.
