Why US Citizens Should Not Accept 3 Percent Inflation

The U.S. dollar has lost more than 90 percent of its value since the creation of the Federal Reserve in 1913. Source: Federal Reserve Bank of St. Louis

Commentary

The recent University of Michigan survey’s reading of one-year inflation expectations rose to 3.4 percent in July from 3.3 percent in June. The five-year outlook also increased to 3.1 percent from 3.0 percent in the previous month.