FOMC minutes

[Bradley in DC]

http://www.federalreserve.gov/newsevents/press/monetary/20071120a.htm

 

[fsk]

I like the part where they say inflation is 2.5% or less. Who do they think they're kidding?

Are they that dishonest, or merely clueless?

 

[OptionsTrader]

I like the part where they say inflation is 2.5% or less. Who do they think they're kidding?

Are they that dishonest, or merely clueless?

They are most certainly not clueless and they are not lying either actually. They merely mean something different by the word inflation. It is a semantics game the Fed plays by defining their own definition of the word inflation.

Intentionally misleading is probably a better descriptor of the behavior of these thieves.

 

[Original_Intent]

We need to demand of congress that inflation be measured by money supply, enough of this CPI lies nonsense.

Of course Congress is party to the whole scheme, since it is in t eir interest to keep us from knowing that we are losing ten percent of our buying power every year.

 

[Brutus]

People need to remember that the Federal Reserve isn't alone in this deal. Congress is the other, equally responsible, party. Greenspan, for all his many and profound faults, openly warned of what the Congressional spending would mean.