The common belief is that inflation is the general rise in consumer prices. However, rising prices are a symptom of inflation, which really is expansion of the money supply.
With the creation of the Federal Reserve in 1913, the American people began their new "partnership" with the federal government. The results were wars, inflation, and currency debasement.
Protectionists falsely claim that free trade provides only negative consequences to the economy while simultaneously claiming protectionism provides net benefits.
If the only antidote offered to prevent a 2008-style contraction is monetary easing, then the risk of stagflation is even higher. Without drastic cuts to deficit spending, or a recession, the likely outcome is stagflation.
Official Washington is shocked—shocked!—at the alleged influence peddling by Senator Robert Menendez. But it is the pursuit of empire and attempts by Washington to meddle everywhere that make such peddling so profitable.
If we read between the lines, it is apparent that the Fed is hoping that price inflation will fall to politically acceptable levels without any additional tightening, and without a recession. But "hope" is all the Fed has.
