Posted on 04/05/2011 8:55:34 PM PDT by blam
Fed Staff Increases Its Inflation Forecast
Robert Wenzel
April 5, 2011
The the Federal Open Market Committee has just released the minutes of the Committee meeting held on March 15, 2011.
The minutes indicate that the Fed staff is increasing its near-term inflation expectations. According to the minutes:
The [Fed] staff revised up its projection for consumer price inflation in the near term, largely because of the recent increases in the prices of energy and food. However, in light of the projected persistence of slack in labor and product markets and the anticipated stability in long-term inflation expectations, the increase in inflation was expected to be mostly transitory if oil and other commodity prices did not rise significantly further. As a result, the forecast for consumer price inflation over the medium run was little changed relative to that prepared for the January meeting.
Translation of this Fed Speak:
We (The Fed) see the price inflation that is just ahead. We hope it is just "transitory" but have no basis for believing it is. In any event, we are going to only raise the price inflation forecast for the near term and hope the inflation goes away after that, which it won't if oil and other commodity prices keep climbing. It should also be noted that this raising of Fed inflation levels is being done at the "staff" level, the clever Bernanke being sure not to spook markets into thinking Fed members are concerned about inflation and are about ready to cut the inflationary money printing party.
Well then boys and girls...
Halllo to Paul Ryan
Yes!
I hate to pee in your cornflakes, but I don’t see how continuing to add $1.1 trillion per year in deficit spending changes the inflation picture all that much.
Thank you, Fed (aka Captain Obvious); the only reason official inflation isn’t 400% is because home prices have fallen as much.
Whatever the Kenyan Pirate’s henchman say, anyone with eyes and a shopping cart can see they’re full of it. Their propaganda won’t get them through the 2012 election cycle; the dumbest voter already knew they were screwed by their government by 2009/2010, and NOBODY (except public school teachers) is better off than they were 30 months ago.
Obama will not be the Dem candidate in 2012; he is our first (half) black president, and our last. A shame; there were many black Americans who were just “American”, who would have represented America much better. Next non-WASP will probably be a Hispanic; can’t be worse...
Indeed, but he needs to quit dying his hair emo black like some kind of freak.
I tend to agree.
Ryan seems like a good guy with good intentions but he's 10-15 years to late. We're past the point of no return
American will not tolerate cutting their benefits & entitlements when there are 13-20 million illegal immigrants vying for the same resources.
This looks very dire.
American will not tolerate cutting their benefits & entitlements when there are 13-20 million illegal immigrants vying for the same resources.
Seems like a food fight is a comin’.
This looks very dire.
It could paralyze most commerce. JMHO.
Yes. Dire indeed.
The list, ping
Let me know if you would like to be on or off the ping list
These traitors have destroyed us.
These traitors have destroyed us.
Yes they have, and they’ll find out that they are not immune to the disaster they’ve brought upon us.
If these jerks would let us get at our own oil, it would not be an inflation factor.
And if they didn't tax the crap out of domestic business, we wouldn't be sourcing goods and services offshore. Americans would be working... and more would be paying taxes instead of collecting food stamps and other freebies that suck the life out of our economy.
Why didn’t Americans listen to the founders who warned us of phony paper fiat play $$$?It’s a game that has HUGE consequences to a nation.
It sure doesn’t take an astrophysicist to see this coming...if you print money like toilet paper with nothing to back it up and run up the national dept to astronomical heights there is only one predictable outcome and this is called INFLATION. Unfortunately all those “Brains” in Washington can’t understand this concept and get their arms around it even so most of them have degrees from some of the most prestigious institution of learning, where they teach everything but COMMON SENSE”
This is my humble opinion, Saintgermaine
Didn’t ya read the dang article? They said inflation was up because food and gas prices were up! Sure seems to make sense to me. What we need to do is bring those prices down, and then inflation won’t be so bad. They should make a law or sumpthin’ to make the prices lower. And where’s my free healthcare!!!????
(Okay - time for bed!!)
Printing money like there is no tomorrow. I have to hit the attic and find "Monopoly". That money will be worth more before long.
Bump
It is frightening, and completely foretold; wages barely rising, while prices continue a steady progression upwards. It’s going to be one sad season down the Jersey shore...
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