Editorial, includes “… Nowadays when price rises hit that pace, as they did in August, everyone’s supposed to relax because that means inflation is moderating. Only an economist or politician could try to define inflation down this way, and plenty will. … As long as you don’t look too hard, these data appear to vindicate those who argue this year’s inflation will prove transitory. … The Fed’s easy monetary policy lifts asset prices of the wealthy but erodes the purchasing power of average workers. Then the politicians tax and spend more in the name of reducing inequality.”
Read the full article on: The Wall Street Journal