Bob Foster
2008-05-28 15:56:56
Have to disagree on both points; inflation is not “targeted” to one particular commodity; inflation is arise in the overall price level; second, the chairman of the Federal reserve is not a member of the Executive cabinet and does not take orders from the Executive.
All of the other items you mentioned as possible contributing causes are just that, each doing its part.
Your comment that the price of oil should be going down is probably a good prediction. It is akin to the law of gravity that when the price of a commodity goes (way) up the supply increases causing the price to go down.
