Keynesian Test - Prices (CPI)
Thursday, Feb 26, 2009
I'm telling you Congressman, I don't believe we'll have an inflation problem in terms of consumer prices. If that turns out to be wrong, then I'll concede that.
Ben Bernanke, Chairman of The Federal Reserve Bank, February 25, 2009, http://www.youtube.com/watch?v=usiFU3FEv9w.
Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once-unthinkable dosages will almost certainly bring on unwelcome aftereffects. Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.
Warren E. Buffett, Chairman of the Board, Berkshire Hathaway Inc, Letter to Investors, February 27, 2009, http://www.berkshirehathaway.com/letters/2008ltr.pdf.
Latest Observations: Date 2008-09-01 2008-10-01 2008-11-01 2008-12-01 2009-01-01 Value 218.783 216.573 212.425 210.228 211.143
Series: CPIAUCNS, Consumer Price Index for All Urban Consumers: All Items, February 28, 2009, http://research.stlouisfed.org/fred2/series/CPIAUCNS?cid=9 (See Also: http://research.stlouisfed.org/fred2/data/CPIAUCNS.txt).