They Needed Someone to Blame. They Found the Fed.

Scott Sumner on the obtuse claim that the Fed's "inflationary" policy stance is responsible for the continued slump in income:

The WSJ Says the Lowest Inflation in 50 Years is Killing the Middle Class

Lets take a look: (I've included both the PCE and the CPI)

David Beckworth lends an assist, but about the claim that the Fed is responsible for low real interest rates.