A Nickel Ain't Worth A Dime: The Fed's Solution To The Inflation Problem.

In a quote by a famous American baseball player, Yogi Berra summarizes inflation very succinctly: "A nickel ain't worth a dime anymore." Inflation is the general increase in the price levels of goods and services. It is an economy-wide phenomenon that concerns the value of the economy's medium of exchange. Whether it be by the price of a basket of goods and services or by the measure of the value of money, inflation can be …

…to produce as many U.S. dollars as it wishes at essentially no cost" in a statement made not to long ago to a group of Asian bankers. The cost of course, as known to any beginning economic student, is inflation, the very thing everyone is trying to stop, or in the very least maintain. Is it wise to give so much power to someone who can actually say those words? Only time will tell.