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Fed chief says inflation not a threat to U.S.
MSNBC ^ | 2/9/11 | Staff

Posted on 02/09/2011 1:30:34 PM PST by Nachum

Washington - Is inflation a growing threat or isn't it? Federal Reserve Chairman Ben Bernanke thinks not, and he told a House Budget Committee meeting as much Wednesday even as lawmakers expressed worries about rising fuel and food prices in the United States and abroad. (Snip) “Inflation is expected to persist below the levels that Federal Reserve policymakers have judged to be consistent” with their mandate, Bernanke told lawmakers. In his first appearance before the House since Republicans

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: chief; fed; inflation; threat
Fogeddaboutit...
1 posted on 02/09/2011 1:30:38 PM PST by Nachum
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To: The Comedian

We are so f****** screwed.....


2 posted on 02/09/2011 1:32:28 PM PST by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: Nachum

The FBI fraud unit should have been there to arrest him and perp walk him out in cuffs after that statement of fraud.


3 posted on 02/09/2011 1:33:00 PM PST by screaminsunshine (34 States)
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To: Nachum

I’m not the sharpest knife in the drawer, but even I know there’s an inflation problem lucking on the horizon. The time to start fixing it is now. The clowns in Washington need to get the message: STOP SPENDING, CUT TAXES.


4 posted on 02/09/2011 1:36:04 PM PST by econjack (Some people are as dumb as soup.)
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To: Nachum

I guess Bernake needs to ask his maid how much his groceries cost and his limo driver how much it cost for US to fill his tank?


5 posted on 02/09/2011 1:36:12 PM PST by Dubya-M-DeesWent2SyriaStupid! (Obama:If They Bring a Knife to the Fight, We Bring a Gun (the REAL Arizona instigator))
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To: Nachum

Statements like this fuel inflationary expectations.

How stupid is Ben? Or, how stupid does he think we are?

Smart people are hedging like heck against inflation.


6 posted on 02/09/2011 1:36:41 PM PST by Uncle Miltie (0bamanomics: Punish Success, Reward Failure. Destroying America is the point.)
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To: econjack
...lucking...lurking
7 posted on 02/09/2011 1:37:08 PM PST by econjack (Some people are as dumb as soup.)
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To: Nachum

Wonder if he’s basing this on the index with or without food and energy included. Recently the news reports the latter index. Makes for a convenient manipulation of the statistics.


8 posted on 02/09/2011 1:37:18 PM PST by mmichaels1970
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To: Nachum

As a manufacturer I have just notified my customers that our prices have been adjusted to compensate for a very hefty price increase in some of our raw materials. Between freight and actual cost I have seen up to a 70% increase in some key ingredients of our products.

I wish that these “eggheads” who work for the ministry of propaganda would come to see me. Somehow, I am seeing massive inflation while they don’t.

Many companies are holding their prices to the retail market in order to “outlast” their competitors. We will soon see the real truth emerge as corporate bankruptcy accelerates through this year.


9 posted on 02/09/2011 1:37:41 PM PST by DH (The Second Amendment is the only protection for the First Amendment)
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To: Nachum

This means that inflation is about to hit hard. Better buy gold today.


10 posted on 02/09/2011 1:42:05 PM PST by Seruzawa (If you agree with the French raise your hand - If you are French raise both hands.)
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To: Nachum
It's not the first time Bernanke has lied ...

Bernanke Lies Under Oath re: Monetizing Debt

11 posted on 02/09/2011 1:42:37 PM PST by Errant
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To: Nachum

That is because they are willingly destroying this economy. So no threat to them. It is a goal!


12 posted on 02/09/2011 1:44:28 PM PST by ColdOne
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To: mmichaels1970
Wonder if he’s basing this on the index with or without food and energy included.

And oh, yes, health insurance: my annual premium went up 20% from last year. That's after a nearly 200% increase in electricity rates over the past 1 1/2 years.

13 posted on 02/09/2011 1:45:33 PM PST by Bernard Marx
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To: Nachum

“Irresponsible” came to mind.

Does the Fed Chairman know the impact of his words on ordinary citizens’ daily lives?

Or should I phrase it “Does he care?”


14 posted on 02/09/2011 1:48:12 PM PST by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: Nachum
“Inflation is expected to persist below the levels that Federal Reserve policymakers have judged to be consistent” with their mandate,

What a clearly measurable and comforting statement. /s

15 posted on 02/09/2011 1:49:11 PM PST by paulycy (Islamo-Marxism is Evil.)
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To: Bernard Marx

Yeah everyone is complaining about electric bills going up as well as, health insurance,car insurance, groceries,gas.

We pay farmers subsidiaries to NOT farm and cotton and sugar are up because India cut us off.


16 posted on 02/09/2011 1:49:36 PM PST by Dubya-M-DeesWent2SyriaStupid! (Obama:If They Bring a Knife to the Fight, We Bring a Gun (the REAL Arizona instigator))
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To: Uncle Miltie

I’m not sure there’s enough money to go around to inflate their way out of this mess.


17 posted on 02/09/2011 1:50:01 PM PST by BenKenobi (one of the worst mistakes anybody can make is to bet against Americans.")
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To: Nachum

Nah, diesel is only up .50 cents a gallon in the past two months. It makes no difference that the majority of everything sold in this country travels to market via rail or truck or both, each of which runs on diesel. Those costs won’t be passed on to the consumer will they, Ben? It doesn’t matter that we’ve been using a large part of our food supply to make ethanol for gubmint fuel mandates, either. That hasn’t driven the cost of corn up by 50% in the last two years. Those costs aren’t being passed along, either, are they, Ben? It makes no difference that E-10 fuel, mandated by the Federal gubmint, on average causes you to get 18% lower fuel economy. That’s not contributing to people having to spend more of their income on fuel at all. Printing presses at Treasury running 24/7? Nah, no inflation pressure there, either, huh, Ben? Nah! There’s no inflation, is there, Ben? Nothing to see here, move along.....


18 posted on 02/09/2011 1:55:32 PM PST by Thermalseeker (The theft being perpetrated by Congress and the Fed makes Bernie Maddoff look like a pickpocket.)
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To: Nachum

“Fed chief says inflation not a threat to U.S.”

Speaking on behalf of all left wing millionaires, they are not concerned.


19 posted on 02/09/2011 1:55:46 PM PST by Spok ("What are you going to believe; me or your own eyes?" -Groucho Marx)
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To: Nachum

1934 Chicago Tribune

20 posted on 02/09/2011 1:56:17 PM PST by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: BenKenobi

With over 600 TRILLION in derivative bad bets, they couldn’t print enough money. Hell, the world’s GDP is no where even close to that number. There is a day of reckoning coming and that right soon! ;-)


21 posted on 02/09/2011 1:58:04 PM PST by Circle_Hook
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To: Nachum
Then how does he explain this in his own F'n words?

Bernanke to Congress: We're Much Closer to Total Destruction Than You Think

22 posted on 02/09/2011 1:59:09 PM PST by P8riot (I carry a gun because I can't carry a cop.....Eagle Scout since Sep 9, 1970)
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To: Nachum

Oh, who has the ‘Baghdad Bob’ picture...this post SOOO needs it


23 posted on 02/09/2011 2:00:53 PM PST by Fedupwithit ("The welfare of humanity is always the alibi of tyrants" -Albert Camus)
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To: T. Jefferson

The interest on the national debt is over $400 billion a year, with fed funds rate near zero. I dont’ know the actual figure, but I imagine if the national debt was pegged at the accurate inflation rate of 8%+, the annual interest would $800 billion plus. Countries would quickly realize they need to stop buying treasuries yesterday.


24 posted on 02/09/2011 2:02:20 PM PST by T. Jefferson (Batton down the hatches, full speed in reverse)
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To: Nachum

Mars Attacks comes to mind, when the martians are broadcasting messages, “Do not be afraid. We come in peace. We are your friends.”


25 posted on 02/09/2011 2:22:28 PM PST by ViLaLuz (2 Chronicles 7:14)
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To: Nachum

So does this mean that it won’t all be Bush’s fault?


26 posted on 02/09/2011 2:29:29 PM PST by Radix ("..Democrats are holding a meeting today to decide whether to overturn the results of the election.")
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To: Fedupwithit
Photobucket

Nothing to see, move along!

27 posted on 02/09/2011 2:41:06 PM PST by Clay Moore (The heart of the wise inclines to the right, but the heart of a fool to the left. Ecclesiastes 10:2)
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To: DH
I have seen price increase twice a year for the last two years from the MFGs we represent. Each time these increases have been somewhere between 5 to 8 percent.

But gee, no inflation in my business. /S

28 posted on 02/09/2011 2:52:05 PM PST by Lockbox (`)
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To: Lurker
We are so f****** screwed.....

Last week or so, one of our little band of merry miscreants here put it quite well:

We're in a game of musical chairs.

Let the music stop.

I make my own chairs.

You and I won't be screwed, but a few hundred million others are going to run out of McNuggets, and 911 is gonna be off the hook.


Today is a good day to die.
I didn't say for whom.

29 posted on 02/09/2011 2:57:49 PM PST by The Comedian (Muslim Brotherhood = A.N.S.W.E.R = Soros = Obama)
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To: Circle_Hook

This is why they need to let the system fall apart and rebuild.


30 posted on 02/09/2011 3:28:58 PM PST by BenKenobi (Don't expect to build up the weak by pulling down the strong. - Silent Cal)
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To: screaminsunshine

“The FBI fraud unit should have been there to arrest him and perp walk him out in cuffs after that statement of fraud.”

They OWN the FBI and they OWN us.


31 posted on 02/09/2011 4:01:51 PM PST by dljordan ("His father's sword he hath girded on, And his wild harp slung behind him")
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To: Clay Moore

There is no threat of inflation you infidels!

And all your HumV are STILL belong to us.

32 posted on 02/09/2011 9:32:54 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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