Helicopter Ben is quite certain that we don't have to worry about inflation. The Fed's got our backs, he says.
But of course, we're not supposed to include in our measures of inflation stuff like energy and food, since those prices are volatile. Thank goodness. I was worried there for a minute about rising energy and food prices.
But what about asset prices? Here, the WSJ reports on rising farm land prices and ponders whether farm land might be the locale of the next Fed-induced asset bubble.
Just remember; all the dollars in existence must be held by someone. Dollars created by the Fed will find a home, and it probably won't be under the bed in a coffee can. Will banks start lending to land speculators, pumping up the next bubble? Don't count'em out.