The Fed says 2% inflation is “price stability.” 2% a year is ~22% over a decade. That’s what we just got. That’s not stable prices. That’s a planned cut in the dollar’s buying power — a tax on you. And if they hit those numbers, they call it a success. Congress mandated stable prices. The FOMC replaced that with a 2% target in 2012. Hitting the target and delivering stable prices are not the same thing.
Steve MillerShare
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