A Juxtaposition

From the WSJ:

“I think he’s been the most inflationary, dangerous, and power-centered chairman of the Fed in the history of the Fed,” Mr. Gingrich, a former House Speaker, said Wednesday.

Now we can debate whether he is the most dangerous or power-centered chairman of the Fed, but let’s consider the first claim regarding inflation.

Inflation, as measured by the GDP deflator since Bernanke was appointed on February 1, 2006:

Inflation, as measured by the GDP deflator during Arthur Burns’ term as Federal Reserve chairman (February 1, 1970 – March 8, 1978):

Note that the highest rate of inflation during Ben Bernanke’s tenure is below the lowest inflation rate observed during the tenure of Arthur Burns.

4 responses to “A Juxtaposition

  1. Excellent post. The hysteria about inflation is curiously out of tune right now.

    I guess it is anti-Obamaism.

  2. Gingrich’s comment is an opportunistic attempt to capitalize on the anti-government wave emerging in the general public. Those who favor limited government should seize the opportunity for significant reform and change, but alas the politicians who claim that mantle only seem to have interest in soundbites.

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