An open letter to the Fed

[mgray]

I was flabbergasted yesterday to hear Janet Yellen say it was a mystery to her and the other Federal Reserve committee members why inflation is so low.

Well I posted (http://wp.me/p8BOpJ-17d) this letter to let her know what the great unwashed outside the Beltway are enduring during her tenure at the Fed.

[Bruno]

Wow, you hit more than one nail on the head with that letter. Truth!

[norman]

But you know she's lying, don't you ?

Of course she knows, really . . . ( well, in the academic sense, not because she's had a natter by the milk fridge ).

[mgray]

Norman I'm aware that she knows full well. Velocity of money is taught in Econ 101.

That's What makes it a bold-face lie to the American People and she should be called out on it.

[Buzzie]

John William's Shadow Stats has inflation at 6-9% when based on 1980 or 1990 method of determining it. How can Yellen not know this? The government under reports inflation to keep Social Security increases to a minimum. We are lied to constantly about everything.