The Chairman says he has the best inflation record since the 2nd World War.
With the unemployment rate still above 9%, and federal debt at record levels, this latest error by the monetary authorities is likely to be the most costly since the Great Inflation of the 1970s.
By contrast, during the 41-years since going off gold, the U.S. has suffered the Great Inflation of the 1970s, two of the worst recessions since the Great Depression, and now a dozen financial crises.
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But, in real terms the figures actually mean a cut for the NHS, because inflation has risen since the Spending Review.
We're in for the most serious bout of inflation since the presidency of Jimmy Carter.
The year over year jump is the sharpest acceleration in the food inflation rate from one year to the next since 1978, according to IndexIQ.
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The Euro zone inflation rate is the lowest since August of 2010.
And on the other, the exchange rate has been one of the prime reasons why British inflation has stayed so low since the committee was given control of interest rates in 1997.
After years of revising growth down and inflation up, this is the first inflation report since 2007 to paint a generally brighter outlook, although the forecasts still show no return to pre-crisis levels of growth.
PriceStats, a specialist provider of inflation rates which produces figures for 19 countries that are published by State Street, a financial services firm, puts the annual rate at 24.4% and cumulative inflation since the beginning of 2007 at 137%.
The Bank of England has had a formal inflation target since the early 1990s.
Those calling for immediate action may be right that losses should fall mainly on creditors in the form of higher inflation and fiscal transfers since the alternative of forcing citizens of indebted countries to bear the cost of adjustment is politically impossible and likely to lead to a collapse in the euro.
The outcome surprised the market as it was the first uptick since inflation peaked at 6.5% in July of last year.
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Ford also didn't flinch when the Federal Reserve's anti-inflation tightening plunged the U.S. into its worst economic downturn since the 1930s. (Sadly, the gains against inflation--the rate had fallen almost three-fourths by the time Ford left office--were lost, and then some, under President Jimmy Carter.) And, unlike the current White House occupant, President Ford readily used his veto pen on excessive spending bills and other legislation he thought harmful.
Compared with a year earlier, the core CPI rose 2.8%, the fastest core inflation since 1996.
Officials admit that reaching the fiscal target will be made easier by higher inflation, since it erodes the real value of public spending.
The average cost of college per student has risen by three times the rate of inflation since 1983.
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If the government had merely increased tax allowances and benefits in line with inflation since 1997, said the work and pensions secretary, James Purnell, there would be 1.7m more poor children in Britain today.
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The Bank of England and the Office for Budget Responsibility think the slow pace of growth since 2010 owes more to the eurozone and imported inflation than it does to Mr Osborne's tax rises and cuts in public investment.
Analysts have accused Argentina specifically of understating the rate of inflation since 2007 in order to keep interest rate payments on its debt low, and to flatter the political regime.
To judge by Thursday's statement, the forecast for inflation has edged up since then, but not enough to tip the balance against more QE.
In real terms, adjusted for consumer-price inflation, interest rates are already negative: for the first time since the mid-1970s. (Though using a different measure of inflation, they are still positive, just.) Although the context is very different, some commentators are already noting that the Bank of Japan has, for a prolonged period, had virtually no room for manoeuvre on monetary policy because Japanese interest rates have been negative for so long.
The sharp fall in the cost of fuel caused the US monthly inflation rate to fall at its sharpest pace since December 2008.
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Has college tuition not gone up at multiples of inflation since the Fed started subsidizing college?
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Even our figure of 3.8% represents a fall in real terms, since the inflation rate is 4.2%.
Likewise, many bad investments made during prosperous times will be bailed out by inflation since the value of their output can now show nominal profits.
As he shows, the chances of being hit by a life-altering event (a long spell of unemployment, divorce, a big decline in work hours for one spouse) have declined slightly since the inflation-plagued 1970s and early 1980s.
The seasonally-adjusted increase of 0.4 percent in the CPI is the highest monthly inflation reading since last April.
On the old basis American inflation would now be almost 4%, the highest since 1991.
On Tuesday, Germany - the biggest economy in Europe - saw its bond yield drop below the inflation rate for first time since reunification.
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