Why Debate Over Inflation is much Ado About Nothing

http://www.cnbc.com/id/41527752

Even inflation may be in the eye of the beholder.

With the unemployment rate at 9 percent and the economy posting less-than-spectacular growth in recovering from the worst downturn in seventy years, inflation may seem an unlikely threat. But that hasn't stopped a growing number of doomsayers on Wall Street and Capital Hill from crying "Fire!".

What's driving the thinking, however, is arguably less a matter of current and leading economic indicators than a powerful cocktail of empirical wisdom, deficit politics and ideological debate about the role and powers of the Federal Reserve in managing the economy.

Dont forget to read this analysis of why all the yelling about inflation in the U.S. is happening now.