Courtesy of Mish.
In testimony to Congress on February 27, Bernanke bragged that inflation under his and Greenspan’s watch was a mere 2% a year.
Of course Bernanke ignored a housing boom and bust. He also ignored a a dotcom boon and bust, a global financial crisis, numerous bank bailouts, and a policy of “too big to fail” that is now “even bigger”.
Fed Inflation
A Bloomberg video exposes Bernanke as nothing but a charlatan. Please consider Hockey Stick Inflation.
Inflation Targeting at 2% Per Year
Bernanke brags about a 2% inflation rate as if it is something to brag about. It’s not. This is what it looks like over time.
Inflation Targeting at 2% a Year
click on any chart for sharper image
Hockey Stick Inflation
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