So much for taking a tough stand - Powell folds like a bad hand of cards:
$1,000 for Starbucks’ coffee anyone?
I’m still buying gold
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Oh my!
Sounds like an entirely new economic theory.
Does that mean when you sell all your gold you drink Starbucks?
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Well, I don’t know anyone who got poor by saving gold.
As for our toilet paper currencies
Fiat currency always eventually returns to its intrinsic value–zero.
(Voltaire)
Powell, being tough:
Fed Chairman Jerome Powell vowed tough action on inflation, which he said jeopardizes the recovery.
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Powell on CNBC in March 2022.
Good thing nothing has changed.
You have selective change syndrome.
The Fed’s 2% target:
The consumer price index, which peaked above 9% in June 2022, rose by 3.1% in November, according to official data released on Tuesday. But many Americans are still grappling with the heightened cost of living, and price growth remains above the Fed’s 2% target.
Going back up:
…and if The Fed fiddles the ‘inflation’ figures like the BofE then true prices rises will be even higher.
Still, my share portfollio has risen nicely today
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Are you saying shares will be rising to this price OR the cost of a cup of coffee will be this price?
JimA
He means only $125 per cup but he is expressive.
Hi JimA
The USA is going to have more of this:
Powell must be concerned about US debt and the growing cost of servicing this. The dollar is now just a Ponzi scheme as the only way that the USA can service this debt is to print more dollars - a doom loop 
This is above your pay grade. The 1970s are why we now have counter-cyclical economics.
I don’t live in 1971 - nor do I live in 1929! I live in the here and now.
JimA
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I thought that the 1970’s was all about flairs 
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I do not know what that means. I am not English.
So ok.
…and you are going to get more of this:
I like to think that my current dollars are worth $1,000,000.00 in 2448 when I turn 500!
JimA
I was not born 90 years ago, so who cares? However, from your very site, $100 in 1989 is now $247. This is when I started working out of college. That is a CAGR of 2.7%. However, my wages have gone up 8X, for a CAGR of 6.4%.
So… why am I concerned about the devaluation of the dollar due to inflation?
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110 years ago. I was there.
Math is hard. :D. and more characters
Maybe I am older in dog years.
It is a cautionary tale for the throngs of people who intend to keep their money in cash in a shoebox under the bed for the next 110 years. Unlike the crazies who put it in an interest bearing checking account or buy stocks and bonds with it.
Speaking of 1989, the inflation-adjusted gold price is up 100% since then, for a CAGR of 2%.
Stocks (again inflation-adjusted) are up 450%, for a CAGR of 7%. Since we are looking at historical performance over the long term, one of those is a vastly better place for your money.
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