Must-See Video: The Federal Reserve Is Lying About Inflation
Investmentwatch
Speaking to reporters in her second formal news conference as head of the Federal Reserve, Janet Yellen downplayed the recent uptick in inflation, saying prices are rising in line with the central bank’s 2014 projections.
http://thecrux.com/must-see-video-janet-yellen-is-lying-about-inflation/
Just the other day, the Bureau of Labor Statistics announced that the price index for meat, poultry, fish, and eggs has just soared to a new all-time high.
This is something that I have repeatedly warned would happen. Just check out this article and this article.
And it isn’t just meat prices that are going up. One of the largest coffee producers in the entire world just announced that it is going to be raising coffee prices by 9 percent…
It took the Fed long enough but finally even it succumbed to the reality of surging food prices when, as we reported previously, it hiked cafeteria prices at ground zero: the cafeteria of the Chicago Fed, stating that “prices continue to rise between 3% and 33%.” So with input costs rising across the board not just for the Fed, but certainly for food manufacturers everywhere, it was only a matter of time before the latter also threw in the towel and followed in the Fed’s footsteps. Which is what happened earlier today when J.M. Smucker Co. said it raised the prices on most of its coffee productsby an average of 9% to reflect higher green-coffee costs.
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