Bernanke's 'Inflation' Record
Addressing a question yesterday, from Senator Bob Corker, on his "being the biggest dove since World War II" and the "degrading effects that he's having on society," Bernanke responded proudly that be believed his "inflation record is the best of any Federal Reserve Chairman in the post-war period." Of course that is by his measure. We suggest, he and few of his transitory colleagues look at the chart below for a sense of just what his 'dovishness' looks like to the rest of the food- and energy-consuming world... or perhaps by 'best' he means 'most'.
CORKER: So I think that, you know, I don't think there's any question that you would be the biggest dove, if you will, since World War II. I think it's something you're rather proud of.... Just wondering if you -- if ya'll talk at all in your meetings about the degrading effect that's having on our society.
BERNANKE: You called me a dove. Well, maybe in some respects I am, but on the other hand, my inflation record is the best of any Federal Reserve Chairman in the post-war period, or at least one of the best, about two percent average inflation.
The Bernanke Era Inflation...
(h/t Paul Vreymans)