“At Jackson Hole, Mr. Bernanke explained that “if inflation expectations were too low . . . an increase in inflation expectations could become a benefit.”

Well, he’s certainly succeeded in raising inflationary expectations. But rising commodity prices and a debased dollar have proved harmful to many businesses because inflated costs mean deflated profit margins. The headlines on two recent news reports in this paper tell the tale: “Prices Squeeze Main Street: Some Retailers Are Trapped between Rising Commodity Costs and Low Inflation” (Oct. 19) and “Dilemma over Pricing: From Cereal to Helicopters, Commodity Costs Exert Pressure” (Oct. 21).” Read more. 

“Ben Bernanke’s Impossible Dream” 
Alan Reynolds 
Wall Street Journal, November 9, 2010. 

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