Janet Yellen, the current Vice-Chair of the Federal Reserve is rumored to be next in line to replace “Helicopter” Ben Bernanke.  This is troubling because, as a committed Keynesian, she is a big fan of inflation as a way to lesson the pain of unemployment.  Indeed, she is–as many others are–convinced that inflation causes small harms to society in comparison to the evils of unemployment.  While she undoubtedly doesn’t support all levels of inflation, she has a history of calling for easier monetary policy.  So what’s her verdict on the the current monetary policy full court press?  Full steam ahead!

Are we surprised that claims on real assets are rising in price?