Federal Reserve: An Enemy Of The People

There will never be a better time than the present to call a spade a spade. The central bank of the United States, the Federal Reserve, has become an enemy of the people. I went to the grocery store yesterday, and was simply astonished—and frightened—by the price rises I saw in nearly everything I bought—coffee, meat, off-the-shelf pharmaceuticals, you name it. The Wall Street Journal sent me the following missive this morning, presumably to remind me of the ever-thinner justification behind the Federal Reserve's policies.

The consumer price index last month increased by a seasonally adjusted 0.5% from February as gasoline and food costs moved higher, the Labor Department said. On an annual basis, prices were up 2.7% in March, the highest level since December 2009.

But core inflation, which excludes energy and food prices that can be volatile, rose by only 0.1% in March from February. The annual underlying inflation rate stood at 1.2% last month, within the Fed's comfort zone of just under 2.0% and giving the central bank scope to keep its easy-money policies in place. (read more)