Moms Know What Ben Bernanke Doesn't: Inflation Is Here

If Federal Reserve Chairman Ben Bernanke were a soccer mom shopping for corn flakes, he would probably have a different outlook on inflation in the United States of America today. More evidence of runaway inflation surfaced Thursday morning as the US Agriculture Department forecast food prices to rise more than 3% in 2011, which is close to twice as much as the overall inflation rate. Speaking at the USDA Agricultural Outlook Forum, US Agriculture Secretary Tom Vilsack acknowledged the stark reality of ballooning food prices while also aiming to assuage apprehensions about their impact. "We're keeping an eye on this,"...