The Federal Reserve is dabbling in wishful thinking

There was a lot of tortured logic in the Fed chair's remarks before Congress

Janet Yellen's statements are raising questions.
(Image credit: Chip Somodevilla/Getty Images)

Does the Federal Reserve's approach to inflation boil down to wishful thinking?

Janet Yellen, who heads up the Fed and the decision-making body within it that votes on monetary policy, made one of her semi-regular appearances before Congress Wednesday. And if you dig through her official testimony, I think it's hard to come to any conclusion other than "yes."

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.