To be fair, those complaining about inflation could simply show 'em all and stop buying food to eat or using energy for their home or car. The skyrocketing costs hitting every American home are fictional. Haven't happened and won't be an issue at all moving forward. See, Bernanke isn't quite as much of an idiot as most believe.
Yet Bernanke's Fed signaled Wednesday that, after nine months of interest rate cuts and expansive lending to the financial sector, it isn't eager to reverse course and push rates higher to try to tamp down rising prices.
Why? Because the Fed remains skeptical that high commodity prices will ripple through the economy, leading to broad price hikes and big wage increases.
"The committee expects inflation to moderate later this year and next year," the Federal Open Market Committee said in holding the fed funds rate steady at 2%, though it did note that "uncertainty" remains high and suggested inflation concerns could rise.
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