Fed chief considers inflation "a tax"
New American, The, August 18, 2008 by John F. McManus
"Congressman, I couldn't agree with you more that inflation is a tax, and that inflation is currently too high."
Responding to Congressman Ron Paul's charge that he was "probably the biggest taxer in the country," Federal Reserve Chairman Ben Bernanke agreed that inflation, which by definition is the creation of additional money and credit, is indeed a tax. But he also expressed a willingness to have some inflation as long as it's not "too high."
COPYRIGHT 2008 American Opinion Publishing, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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