The Pendletones

We’re back on our inflation kick this week after complaining about the analyst community last week.

Dr. Bernanke was out trying to rebuild the credibility of the Fed as an inflation fighter last week in speeches, a Wall Street Journal op-ed and Congressional testimony. The Fed has a dual mandate (which is sort of rare among central banks) to maintain stable prices and foster economic growth (actually full employment). To do both at the same time requires the balancing skills of a world-class acrobat. We have had few of those folks work at the Fed over the years. Read more