The Federal Reserve announced a future strategy to contain the money supply and inflation that no one should believe will work.

Since his election as president of Venezuela in 1998, leftist strongman Hugo Chávez has shattered his country’s already weak institutions to expand and sustain his grip on power and has built an anti-U.S. alliance with Cuba, Iran, Russia and China.

When countries run huge budget deficits with rapid money growth and a depreciating exchange rate, inflation follows. There is no reason to believe we will escape the consequences.

Ben Bernanke should ignore Congress and start tightening up soon.

The Federal Reserve is considering attempts to stimulate the economy, but it should instead give up this nonsense about more stimulus and offer a credible long-term program to prevent the next inflation.

If President Obama and the Federal Reserve continue down their current path, we could see a repeat of the inflationary years of the 1970s.

Could today's policymakers tip the world into an unnecessarily harsh recession in order to avert an imaginary fear?

Aloose monetary policy is necessary to head off an economic downturn that is coming our way.