Psst: You want to know the truth about inflation? Part I (It's not what the Fed thinks it is.)

Prices are rising because corporations have the power to raise them. They're using "inflation" as an excuse. The Fed is about to apply the wrong medicine.

Yesterday, the Fed’s policy committee announced it would both end its bond-buying program and likely raise interest rates sooner than had been expected. “Inflation is more persistent and higher, and that the risk of it remaining higher for longer has grown,” Fed chair Jerome Powell explained. Translated: Powell and the Fed are about to slow the economy …