"Federal Reserve Chairman Ben S. Bernanke said that keeping monetary stimulus is warranted even as the unemployment rate falls and rising oil prices may cause inflation to rise temporarily.
“At present, with the unemployment rate elevated and the inflation outlook subdued, the committee judges that sustaining a highly accommodative stance for monetary policy is consistent with promoting both objectives” of the Fed for stable prices and maximum employment, Bernanke said today in prepared testimony to the House Financial Services Committee in Washington."
Jim Rickards på sin twitter:
"Breathtaking to watch Bernanke mislead country w/ a straight face. Academic lit is clear that $ deval = $ inflation. Distinction is a lie"