Fed drops ''firming'' from policy stance
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The feds are responsible for the inflaction by increasing the money supply at an extreme rate.
It's hard to know by how much exactly since they no longer release the money supply figures, but the money supply has more than doubled since Bush took office with a corresponding 40% drop in the value of the dollar.
Inflation would have been extreme as a result if the dollar were not the world currency with China and other countries absorbing all those extra dollars.
EchelonMonitor 5 years ago