Gene Epstein: Our Cheap Debt Will Come Back To Haunt Us

Fed policy certain to fuel inflation. You may have heard by now of the Federal Reserve's "dual mandate." Not content to merely protect us against the ravages of price inflation (mandate No. 1), our fearless Fed is equally committed to fostering "maximum employment" (No. 2). And right now, with the unemployment rate still at 8.3%—far too high to meet anyone's ... MORE