It's true. It had its ups and downs, and wound up just about where it started in 1914. Upward ever since.
> brief deflationary periods
You're nitpicking. https://www.in2013dollars.com/current-inflation-rate
Take a good look at it. The dollar has decreased in value since 1940 by a factor of THIRTY. Can you really explain that with the price of oil? Do you wonder why the inflation calculator starts at 1913?
https://www.bls.gov/data/inflation_calculator.htm
> A baseline bias to low inflation is a deliberate policy goal of the Fed
And thus you admit that it's the Fed causing inflation.
It's true. It had its ups and downs, and wound up just about where it started in 1914. Upward ever since.
> brief deflationary periods
You're nitpicking. https://www.in2013dollars.com/current-inflation-rate
Take a good look at it. The dollar has decreased in value since 1940 by a factor of THIRTY. Can you really explain that with the price of oil? Do you wonder why the inflation calculator starts at 1913?
https://www.bls.gov/data/inflation_calculator.htm
> A baseline bias to low inflation is a deliberate policy goal of the Fed
And thus you admit that it's the Fed causing inflation.