Ben Bernanke & Janet Yellen’s Inflation Mystification Ails Fed

Fed officials don’t grasp what inflation is. If they understood what it is, they wouldn’t be so worried about the Fed’s so-called independence. 

For background, contemplate a recent New York Times opinion piece by former Federal Reserve Chairs Ben Bernanke and Janet Yellen. While they’re no longer at the central bank, their ideas about inflation remain. And what they imagine inflation to be speaks to the real problem at the Fed…

Read the full article here.