[quote=CA renter]
Yes. BTW, are you using nominal CPI numbers (I haven’t fact-checked your numbers)? If so, the way they calculate CPI means that the inflation number here is understated, too.
[/quote]

Isn’t CPI nominal by definition. It’s just an index that measures what the BLS thinks inflation is. Certainly it’s flawed/understated based on the typical house hold budget. It certainly misses asset price bubbles. Your led to 2 conclusions when the fed says they didn’t see the bubbles. Either they are too dumb to look outside of CPI or they are lying.