Inflation, Here We Come?

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Photo: Photo-illustration: Mary-Louise Price; Photos: KAREN BLEIER/AFP/Getty Images, Disney

Ben Bernanke finally made good on his word and announced that the Federal Reserve would spend $600 billion on a second round of "quantitative easing." Basically, the big bank will buy up more stuff in the hope of flooding the market with money and getting people to spend more. If it doesn't work, we're even more screwed (like Japan!), and nobody's getting reelected in 2012. [NYT]