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Bernanke didn't see inflation with $150 oil back in 2008. So of course he doesn't see it now. Pull up a chart of gold, agricultural commodities, or base metals if you want the truth.

Today's Bloomberg headlines:

  • Gold Futures Surge to Record as Dollar Tumbles on Fed's Policy Statement
  • Cotton Rises, Extends Rally to 15-Year High as China Increases Purchases
  • Orange-Juice Futures Advance to Three-Year High on Florida Storm Concerns
  • Lumber Futures Jump Exchange Limit as U.S. Housing Gain May Revive Demand
  • Copper Declines as Uneven U.S. Recovery Tempers Gain in Asia Metals Demand
  • Sugar Drops on Reduced Concern About Supplies From Brazil; Coffee Climbs
  • Uranium Prices at 10-Month High Attract Hedge Funds, Investors, UxC Says
  • Rusal Sees Aluminum Rising to $2,400 to $2,500 Next Year on Chinese Demand
  • Oil Declines for Fifth Time in Six Days on Bets U.S. Refinery Output Fell
  • Wheat Declines on Bets Prices Climbed Too High Relative to Corn Futures
  • Hog Futures Rise on Signs of Shrinking U.S. Meatpacker Supply; Cattle Gain
Howard Penney
Managing Director
Fed Says, "No Inflation" - Today's Headlines On Bloomberg - 3
Fed Says, "No Inflation" - Today's Headlines On Bloomberg - 1