In this week’s release of the minutes from its April 29-30 meeting, Federal Reserve policymakers made clear that they see little chance of inflation moving past their 2% target for years to come. In order to make such a bold statement, Fed economists not only had to ignore the current data, but discount the likelihood that their current stimulus will put further upward pressure on prices that are already rising. Even if you believe the highly manipulated government CPI data, April’s year over year inflation rate came in at 1.95%, a statistically insignificant difference from the Fed’s 2% target. If annualized, April’s … Continue reading Inflation Is Everywhere