“The Fed has worked for decades to suppress inflation, ....”
What complete and utter B.S.! The Fed (along with central banks in other countries, including Canada) has spent over a decade fighting deflation. That’s the exact opposite of working to “suppress inflation. What does the New York Times think QEI, QEII, etc. were all about?
The NY Times has so abdicated their journalistic responsibility that they will accept, even trumpet, this drivel without a second of thought or hesitation.
The value of the dollar has been on a steady down. Its sitting at support and looking for direction.
http://stockcharts.com/c-sc/sc?chart=$USD,uu[800,a]daclyyay[pb50!b200!f][vc60][iue12,26,9!lc20
Deflation resolves itself and has done so historically. What we’re seeing via Central Banks is fascism - government management over the economy. They’ll fail at this.
Also, we need to consider that you can have a very healthy economy with persistent deflation. This would be an economy with a robust entrepreneurial marketplace and continuing growth in productivity that outpaces the population growth. This would be Nirvana and would look like the US in the 1800s, pre-progressivism.