We still have a whole world of nations slaving for us (before the robotics technology is mature enough to take over) to keep the cost down, of course there is no inflation. Had fun with the Black Friday and the Cyber Monday?
Then you should read up on the Fed mandate. Stable prices is just 1 out of 3 mandates the Fed has. Maximum employment is another one and that is the major reason for the easing.
Some people still naïve beyond comprehension Whatever is a law you must remember 2 things 1. Fed is not independent. It has some autonomy at a times but in crisis mode they just follow orders 2. Fed main unofficial mandate is rising asset prices. Their stable price mandate is a joke and their employment mandate is beyond their scope Another unofficial mandate is they also must ensure dollar is not in danger of losing reserve currency status.
I missed the difference when the former fed chairwomen is soon to be running the treasury and when I see Powell and MNuchin buddying up https://www.bbc.com/news/world-us-canada-55136504 https://www.cnbc.com/2020/09/24/wat...n-testify-before-the-senate-covid-relief.html That separation was there for a reason but is now non existent