Fed voting member Beth Hammack had me scratching my head this week.

First, higher oil prices contribute to inflation… fair enough.

Then came the twist: lower oil prices could also cause inflation because consumers would have more money left over to spend.

So… higher oil prices are inflationary, and lower oil prices are inflationary?

Sometimes it feels like the Fed’s answer is, “No matter what happens, inflation!”

From where most Americans sit, the math seems a little simpler. Higher Fed rates make mortgages, car loans, credit cards, and business loans more expensive. Those higher borrowing costs show up in family budgets every single month.

Maybe it’s time for a few Fed members to spend less time staring at economic models and more time standing in line at the grocery store or making a mortgage payment.

Just a thought.

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