WASHINGTON, D.C. March 16 (DPI) – America’s Central Bank is citing an increasingly dubious annual inflation target of 2% as it sticks to near-zero short-term interest rates and more bond purchases intended to inject yet more cash into the economy.

The Federal Reserve announced today that it’s still too early to change it aggressive policies supporting the US economy, which of course is also getting a big boost from $1.9 trillion in stimulus cash.

Measurements of inflation vary – with so-called core inflation nor including more volatile sectors of food and energy – but the Fed seems to be ignoring the long-term powerfully inflationary effects of expanding the nation’s money supply.

A report this morning in The Wall Street Journal triggered a wave of responses from readers, many of whom regard the ongoing money-printing – by both the Fed and Congress – as disastrous for the very middle- and working-class people that the politicians are seeking to help. Some see the government “destroying wealth on a grand scale.”

One of the most recommended comments this morning:

Will there ever be a day when the mass of the people understand that expansion of the money supply does not “support the economy” nor drive economic prosperity?

All it does is transfer wealth from the people to a small banking elite and act as a stealth tax by destroying the purchasing power of the money already in hand, allowing government to monetize its debt.

It would be great if there was some media outlet mainly geared to towards business and economic understanding that would point this out and take government to task for destroying wealth on a grand scale…