[Tell It Right]

Good for him for naming the 3 major monthly expenses left out of the Fed’s main inflation rate (the CPI): food, gas, and housing. The three things from our expenses that jump the most with inflation.

[flamberge]

Inflation is caused by Government spending of "borrowed" money, which is actually made up out of nothing when the Federal Reserve system buys newly issued Treasury bonds. Both parties benefit, up to a point.

Raising interest rates protects the bankers at the expense of everybody else - including Government It does not stop inflation. That lie is promoted to avoid howling mobs dragging bankers out to the nearest highway overpass and stringing them up.

The lie seems to work pretty reliably. It protects bankers and government officials from focused retaliation.

Inflation stops when the government stops issuing new currency in excess of real economic activity. That is the only way it stops.

Failing Governments always debase their currency to fund their continuing operation. That works until it doesn't. Plenty of recent historical examples to learn from. Or not.