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David Stockman Exposes The Fed's "Fake Victory Over Inflation"

Back in the day, of course, the core mission of central bankers was price stability over time, not statistical game-playing based on the annualized rate of inflation for short, arbitrarily chosen periods.

For the last 75 months running, the most stable measure of inflation available has posted Y/Y inflation well above 2.00%. On a cumulative basis the gains have averaged 3.7% per annum.

When you overshoot even that arbitrary pro-inflation target by nearly 100%, why in the world is the Fed claiming that victory over inflation is at hand, and that the next round of rate-cutting and monetary stimulus is fixing to commence?

If nothing else, you'd think that the paint-by-the-numbers monetary central planners at the Fed would at least deign to give America's battered savers and wage earners an extended breather from inflation risk for several more quarters or even years.

After six years of elevated inflation, the case for diluting the inflation trend with a period of low or no inflation is overwhelming.

Why shouldn't the Fed be obliged to average-down for an extended interval, given the inflation surge that it enabled during recent years?

The Fed goes so far in its Wall Street obeisance as to pick the very shortest inflation ruler published by the US government. 

https://www.zerohedge.com/markets/david-stockman-exposes-feds-fake-victory-over-inflation 

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