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Everybody relax. The recession is easing, and inflation is under control.
See? The Fed says so right here:
Fed says recession easing, inflation not a threat
03:30 PM CDT on Wednesday, June 24, 2009
Associated Press
WASHINGTON - The Federal Reserve says the recession is easing, but the economy likely will remain weak and keep a lid on inflation. Against this backdrop, the Fed held a key bank lending rate at a record low of between zero and 0.25 percent, and pledged again to keep it there for "an extended period." Even though energy and other commodity prices have risen recently, the Fed predicted inflation will remain "subdued for some time." This new language sought to ease Wall Street's concerns that the Fed's aggressive actions to revive the economy will spur inflation later on.
Then again, the Fed also says they've doubled the money supply in the past eleven months:
http://research.stlouisfed.org/fred2/series/BASE
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- Stephen M. Smith
"Wow, they have a graph! It must be true, then..." said the non-thinkers.
See? The Fed says so right here:
Fed says recession easing, inflation not a threat
03:30 PM CDT on Wednesday, June 24, 2009
Associated Press
WASHINGTON - The Federal Reserve says the recession is easing, but the economy likely will remain weak and keep a lid on inflation. Against this backdrop, the Fed held a key bank lending rate at a record low of between zero and 0.25 percent, and pledged again to keep it there for "an extended period." Even though energy and other commodity prices have risen recently, the Fed predicted inflation will remain "subdued for some time." This new language sought to ease Wall Street's concerns that the Fed's aggressive actions to revive the economy will spur inflation later on.
Then again, the Fed also says they've doubled the money supply in the past eleven months:
http://research.stlouisfed.org/fred2/series/BASE
STEPHEN!!!
Awesome find, man. That St. Louis Fed is a strange creature. They keep coming out with reports and bits of info that show us how disastrous the system is! That shocking drive upward, as indicated in the graph, will be felt very soon, I'm afraid, and with Cap N Trade added to the mix, this could be a truly historic period of price inflation mixed with unemployment and high interest rates, even while the bonds the US tries to sell become more worthless than tickets to an upcoming Michael Jackson concert.