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URL:  http://boards.fool.com/in-theory-the-federal-reserve-is-supposed-to-20694623.aspx

Subject:  Re: RON PAUL: The Federal Reserve Debt Engine Date:  4/27/2004  6:43 PM
Author:  brucedoe Number:  10041 of 35367

In theory, the Federal Reserve is supposed to flatten out inflation and the deflation. If they do this, then it is worth it. If they don't, then they aren't worth it. Jimmy Carter asked Paul Volker to kill inflation. He did but it was hard on a lot of people. In the end, however, I think it was probably worth it.

I tend to think we should be in a period of raging inflation, but we aren't except in services. My fear is that the longer inflation is put off, the worse it is going to be.

brucedoe
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