Defending the US Federal Reserve's policy at the US Senate committee a few days back, Fed Chair Ben Bernanke says that he has the best tract record in terms of inflation.
From the CNBC,
In criticizing the central bank's easy monetary policy, Sen. Bob Corker, a Republican from Tennessee, called Bernanke the biggest dove since World War II.Bernanke was quick to push back. "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 postwar period – or at least one of the best," he said, citing the 2 percent average inflation rate.
What Mr. Bernanke refers to is the statistical inflation by the FED. (from tradingeconomics.com)
Yet what you see depends on the where you stand.
Here is another perspective of Bernanke’s best inflation record. (chart courtesy of Zero Hedge)
Statistical consumer price inflation may have been suppressed but commodity inflation has been the highest since he assumed the role as Fed chairman in 2006!
Some "best" record eh.
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