Ep 133: The Evils of Inflation

In this episode I explain inflation and the negative effects it has on society. I provide the correct definition of inflation, which is an increase in the supply of money relative to the amount of goods and services in an economy. I explain how the Federal Reserve, which controls the nation’s money supply and monetary policy, creates inflation by printing new money. It is this injection of new cash into an economy that creates higher prices, which has been mistakenly referred to as inflation....