Research (ČP INVEST)
Macroeconomics  |  March 12, 2013 20:05:32

Bernanke's inflation


U.S. central bank chief Ben Bernanke defends its policy that achieves the lowest inflation rate in the postwar period. Selects the data but that suit him. Commodities had his era rocketed more expensive.

U.S. central bank chief Ben Bernanke defended the Fed's monetary policy by for his work as head of the Fed's inflation reaches the best record of all past Fed chiefs in the postwar period. Inflation measured by the CPI (consumer price index), although at some of the lowest levels, but this really is beautiful to see how you can manipulate data. It depends what the content of the consumer basket, from which it specifies CPI respectively. inflation.

The attached graph shows the evolution of commodity prices, which are not included in the CPI at all or only to a lesser extent. However, the IRS is right that inflation is the best entries. The question is what he meant. Whether only CPI or historical commodity prices, which are very sensitive to the development of the money supply by extension to quantitative easing, which has no parallel in history.

Commodity prices

Author: Michal Valentík, chief investment strategist at CP INVEST

Tyto zprávy pro vás vytváří ČP INVEST investiční společnost, a.s..
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