Tim Duy on Bernanke: Very High Bar for QE3
Is Bernanke Aiming for One Percent Inflation?

Why Oh Why Can't We Have a Better Press Corps?

FRED Graph  St Louis Fed 1

What inflation have we had outside of commodity markets, Megan? For that matter, what inflation have we had in commodity markets? Only the price of gold is outside its historic range, and we really do not want to make monetary policy based on the price of gold, do we?

For some reason, the New York Times's "Room for Debate" picks Megan McArdle to talk about the Federal Reserve. And she talks about how Ben Bernanke has been "recklessly ignoring inflation":

Problems He Can't (or Won't) Solve: Mr. Bernanke firmly indicated that he was not going to pursue more quantitative easing, frustrating liberals who think that he has not gone far enough to fight joblessness. And yet he has not satisfied conservatives, who think he has been recklessly ignoring inflation, particularly in commodity markets...

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