Mojito

The Fed Starts to Worry About the Dollar

"The challenges that our economy has faced over the past year or so have generated some downward pressures on the foreign exchange value of the dollar, which have contributed to the unwelcome rise in import prices and consumer price inflation."

Ben is, with an absolutely straight face, blaming inflation on a weak dollar. Inflation, as any Econ101 student can tell you, is directly caused by monetary policy - low interest rates and an increase in money supply. Both of which Ben is not only directly responsible for, but has been happily doing for quite some time.

Either Ben is a total gibbering idiot, or Mr. Princeton Economics Professor is lying is a$$ off.