Fed Reserve Policy is Not the Reason for Inflation

Our second in command at the Federal Reserve, Vice Chairman, Janet Yellen, (a non-elected official whos department is effectively the fourth branch of our government) states today that the Fed is not responsible for the spike in oil prices and that its bond buying initiative has not caused inflation… yeah right and residential property¬†real estate values in the US¬†are appreciating as we speak. We should just all hold our breath and believe it. Here’s the CNN Money news article for your review

http://money.cnn.com/2011/04/11/news/economy/Fed_offical_on_rising_prices/index.htm