Investing

The Fed Continues to Operate Blindly

By John Tamny

For those who’d been optimistic that Federal Reserve officials might eventually wake up to the true nature of inflation, last week’s FOMC meeting likely dashed all hope. The Fed continues to reveal a shocking blindness about inflation’s actual causes, and instead comforts itself with the false notion that subpar economic growth is inflation’s cure. The important part of last week’s FOMC statement went like this:

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