From Economic Policy Journal:

File this under: Watch what they do, not what they say.

William Dudley, the New York Fed president who famously pooh poohed the possibility of significant price inflation, actually owned Treasury securities that protect investors against price inflation.

In March of last year, Dudley played down the threat of price inflation to an audience enraged about increasing food prices, by telling the audience that not all prices were going up, and they should look at the prices of iPads...

In a Fed branch bank data dump late today, the Federal Reserve released the financial holdings of the presidents of its 12 regional banks. The disclosures covered 2008 to 2010. The disclosure came after a Freedom of Information request from Bloomberg News.

Guess what Mr. Chill on inflation Dudley held in his portfolio?

Read full article...

More on inflation:

The three HUGE lies the government is telling you

Why the Fed's dollar-crushing policies are completely insane

The world could finally be waking up to a new "safe haven" currency