Mike Pento: To Hell With What the Fed Says, “Inflation Is Already Here"
November 3 — The Fed kept rates at zero Wednesday and Chairman Ben Bernanke practically guaranteed more action by the central bank to boost the economy during his press conference following the FOMC meeting.
In justifying it's uber-easy stance, the Fed cited a "subdued outlook for inflation," which has "moderated since earlier in the year as prices of energy and some commodities have declined from their peaks."
That's poppycock, according to Michael Pento, president of Pento Portfolio Strategies and a senior strategy at Agora Financial. "Inflation is already here," Pento says, citing the following stats: Read more and watch the video.
