Archive - March 30, 2015

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The Fed Can’t Reach Inflation Target 85% Of The Past 19 Years

The Fed Can’t Reach Inflation Target 85% Of The Past 19 Years

The Federal Reserve’s favorite inflation gauge, the PCE, has only gotten above the Fed’s target of 2% for three full years in 2005, 2006, and 2007 in the past 19 years. The years 2005-07 were when China imported an enormous amount of commodities far in excess of what would be used on a sustainable basis. That probably caused inflation to exceed the 2% target during those years. I guess one could joke that the Fed is so incompetent that they can’t even create inflation despite an enormous increase in the money supply from $4Trillion of Quantitative Easing. Thus, had there …

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