Scatablog

The Aeration Zone: A liberal breath of fresh air

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Saturday, October 18, 2008

What's she saying?

This is a strange quote:

Federal Reserve Bank of San Francisco President Janet Yellen said in a speech this week that the plunge in oil prices along with slackening demand for labor and goods should "push inflation down to, and possibly even below, rates that I consider consistent with price stability."

By definition, "inflation" means rising prices, so any inflation whatsoever is inconsistent with "price stability."

Weird.

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