The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Ridgewood NJ, Federal Reserve chairman Jerome Powell has put his tail between in legs and admitted at a Senate hearing the other day that inflation isn’t “transitory.” With inflation now at 6% Powell acknowledged: “I think it’s probably a good time to retire that word and try to explain more clearly what we mean.”
Continue reading Fed Chair Jerome Powell Admits It’s Time to Retire Phrase “Transitory Inflation”
the staff of the Ridgewood blog
Ridgewood NJ, after Wednesday’s inflation news (6.2% increase over last year) former Clinton and Obama economist Larry Summers, took to CNN to say the Biden White House has been “behind the curve” at every point on prices:
Continue reading Clinton and Obama Economist Larry Summers, says the Biden White House has been “behind the curve” on Inflation
By Charles Stampul
It takes about a decade for inflation to reach its apex. In August of 1971 President Nixon closed the gold window, putting an end to Bretton Woods agreement. CPI and interest rates peaked ten years later.
the satff of the Ridgewood blog
Ridgewood NJ, its my story and I am sticking to it , is Fed Chairman Jerome Powell going to stick with his story of “transitory inflation?”
Continue reading Commodity Price Index Up 58% Since the November Election
the staff of the Ridgewood blog
Ridgewood NJ, since the November election the CRB commodities index has been surging. This index of nearly 20 major commodities – from silver, to copper, to corn, to coal – hit it’s three-year high on Monday at 205. That’s a 35% commodity price spike from election day when it stood at 154. Energy prices have led the ascent. The index had been rising throughout 2020 from its collapse in March and April when the virus hit.
