Inflation "will not remain above 2% beyond this year," Cleveland Fed President Sandra Pianalto...

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WMARKW Comments (8356)
 
Until we balance the budget for 2 or 3 years in a row, unemployment will never see 5.5% again.
11 May 2011, 03:00 PM Reply Like

Econdoc Comments (2944)
 
actually - wrong on both counts. Pretty amazing. Care to try another?

thanks for coming.

E
11 May 2011, 03:04 PM Reply Like

WMARKW Comments (8356)
 
Instead of just criticizing, why don't you offer a scenario that will have us achieve those numbers....in an econcomy driven by consumers and where we have exported our mfg capability for years. Do you see a strong dollar supporting.....more imports, or a weak dollar suporting more exports. You can't reconcile all the variables to make a scenario that is sound.

You must believe the government can make everything all right by printing and spending....if so, it doesn't seem to be working.

You must believe that a ZIRP policy at the FED fosters capital formation and wealth generation. Where do you get that from.

Kindly, once again as I have asked before, offer a believable scenario....otherwise you are just blowing in the wind.
11 May 2011, 05:04 PM Reply Like

LennyAce Comments (2)
 
When was the last time She went to a supermarket
11 May 2011, 03:05 PM Reply Like

wyostocks Comments (5337)
 
So the Fed finally is admitting that they cannot control one mandate and keeps lying about the other.
11 May 2011, 03:05 PM Reply Like

warrenrial Comments (533)
 
Time to change the occupant in the White House.
11 May 2011, 03:08 PM Reply Like

Duude Comments (3274)
 
Some of these people are all in with the notion that inflation can't be a problem as long as unemployment is high. The late 70's and early 80's never happened. What we need to do is look for defining terms and qualifications within her remarks. What's her definition of "a wide range of other consumer goods"? Perhaps, every consumer good must go up in order for it to register as "a wide range of other consumer goods". We can always find deflation in a small group of consumer goods such as computers and related equipment. But her forecast of less than 2% inflation is a pipe dream.
11 May 2011, 03:16 PM Reply Like

Duude Comments (3274)
 
Arthur Burns was Fed chairman from 1970-1978. His rein was known for having been overly influenced by political pressure in his monetary decisions and for adhering to a policy that sought 4% unemployment over all else. Richard Nixon was the President during the earlier years of his term. Nixon was running for reelection in 1972 and was intent on keeping unemployment as low as possible. That later resulted in the adoption of policies that included an artificial inflation cap on goods and services which failed famously. Burn's successor was George William Miller who took the reins in 1978. He continued down the same Keynesian inflation dove path of his predecessor in the face of sky-high inflation brewing throughout the economy. He only lasted 18 months. Today, we have a near identical situation. The Fed is stock full of Fed Presidents who care far more about unemployment than inflation. What they learned from the 1970's is the government can manage inflation with their press releases instead of monetary policy. Its now all a matter of how gullible the American people really are.
11 May 2011, 03:40 PM Reply Like