Boston Fed Prez & The Vigorous Fight For Higher Prices
By Chris Rossini
Reuters on Federal Reserve bank president Eric Rosengren:
Rosengren, in remarks at Washington and Lee University devoted to the potential costs of inflation that remains stuck below the Fed's two percent target, said the Fed's own credibility was at stake. Failure to get inflation to target, he said, raised the risk that investors and consumers would slip into deflationary thinking...
"The Federal Reserve must respond as vigorously to inflation that is too low as we have, historically, when inflation has been too high," he said.
I really hope that The Fed focuses on raising food prices. Right now, I'm paying close to $5 for a loaf of bread, and that's just unacceptable.
Lunchmeat? Anything under $10/lb is now a bargain. But that's unacceptable too. I want to pay more! Let's take a pound of salami up to $20/lb. Until then, I'm not satisfied.
Come to think of it, why stop at food?
My gas and electric bills are always climbing. Why not give them both a real shot in the arm?
Every year when I renew service (A) or service (B), or this insurance, or that insurance, the same thing...higher...higher...higher.
Let's give them all a real jolt. Spike those suckers!
Here's a better idea for this bizarro system that we're all stuck in: Set Money Free.