What Is Inflation?

Michael Wolraich: There are actually two distinct inflation to be talked about. One is asset price inflation and the other, it's happening right now. But nevertheless, there are some very interesting relationships between them. He argues that precisely because the Federal Reserveactually wants to keep asset price inflation going in order to preserve wealth of so many extremely wealthy people. Inflation can only be quashed essentially by restricting the money supply, he says.