Bernanke: Fed not to blame for food price inflation
When the Federal Reserve unveiled a controversial program to buy Treasury bonds last summer, in a new bid to boost the US economy, critics warned that it could unleash inflationary pressures. Since then, global prices for basic commodities have soared, with one measure of global food prices now at a record high. So, is the Fed to blame? On Thursday, Fed Chairman Ben Bernanke pushed back against that idea.