Free Republic

A recent comment by Chicago Federal Reserve President Austan Goolsbee gives you a glimpse into how Fed people think and helps to explain exactly why you’re paying more for everything. It’s almost as if inflating was hardwired into Fed members’ brains. Goolsbee recently sat down with Illinois Treasurer Mike Frerichs during the National Association of State Treasurers conference in Chicago. In the course of the conversation, the subject of pennies came up. There are a lot of people who think the U.S. Treasury should do away with the penny. This would make sense financially. It costs about 3 cents...