Janet Yellen Is Out Of Touch With Reality, Inflation Is NOT Just Noise [Dow Jones Industrial Average, S&P 500]

Janet-YellenThe Silver Bug: In a recent FED meeting, Janet Yellen made a startling comment about the recent and rapid rise in inflation rates. Rates that now go past events the FED’s stated targets. Therefore, shouldn’t the FED be worried about the rising inflation? No, not at all. According to Janet Yellen, it’s just noise.

The man on the street would tend to disagree. Perhaps the effects of inflation are not being felt by Janet Yellen and her peers in their ivory towers on Wall Street, but they are certainly being felt by the average everyday citizen.

Let’s ponder on this “noise” for a moment and decide if it is just that. Everything from the price of cars, housing, fuel and food are rising in price. This comes at a time when the average income of Americans is either plummeting or remaining stubbornly stagnant.

To hone in on a few examples, let’s look at the rising cost of the most important meal of the day, breakfast, and another one of America’s favorite past times, barbecues.

The rising cost of breakfast:

Cost_Of_Breakfast_Inflation

 (chart via Zero Hedge)

Rising cost of ground beef:

Cost_of_Ground_Beef_Inflation

(chart via Zero Hedge)

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