Bernanke has printed enough?
New data from the Fed suggest that Bernanke is now trying to keep inflation under 10%. Year-on-year increase in M2 is now 6.5%. Tthe annulized percent change during the last 6 month is slightly down to 8.3%. The figure for the last 3 months is 10.7%. This is way better than last month's 7.0%, 8.6% and 12.5%. Thanks, Mr. Bernanke, we'are not turning into Zimbabwe yet (though we'are still mightily close). The only troubling thing is that M3 is still growing 20% a year, so I suggest that you do something about this number. How about introducing some of hedonic adjustment? The graph below looks outright ugly.