Thursday, November 11, 2010

Palin Lashes Out At WSJ Reporter, Misquotes Story

Palin Lashes Out At WSJ Reporter, Misquotes Story:
"In remarks delivered at a Phoenix convention, and first leaked by the The National Review, Palin criticized the Federal Reserve's quantitative easing policy, in which the bank will purchase up to $600 billion of new U.S. government debt (as part of a plan that could reach $900 billion), and urged Fed chairman Ben Bernanke to 'cease and desist.'

As HuffPost's Shahien Nasiripour noted Monday, the Federal Reserve operates independently of any other government body, and so political criticism of it is unusual.

Even more unusual were the specifics of Palin's critique: As WSJ's Sudeep Reddy pointed out Monday, she doesn't get all of her facts right. In response to Palin's assertion that 'everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so,' Reddy wrote Monday that 'Grocery prices haven't risen all that significantly, in fact.' He notes that prices have actually increased only 0.6 percent over the past year. It's the lowest rate on record -- so low that it inspired a high-profile Twitter fight late last month."

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