Inflation in America: ‘Virtually unheard of until the Federal Reserve took over’

Picture of the Week

Michael Krieger:

“As is clear by this chart, inflation was virtually unheard of until the Creature from Jekyll Island (the Federal Reserve) took over.  However, more importantly, things didn’t really start to get bad until the 1970?s right after Nixon took the nation off the gold standard in 1971.  Continue reading

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