Food prices up nearly 3%? Gas prices up 28%? Not to worry!
When economists measure inflation they often like to strip out these choppy components, no matter how relevant they are to folks on Main Street.
New York Fed President William Dudley was trying to explain this to a working class crowd in Queens, N.Y. in March, but instead, he kind of blew it.
"Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," he said. "You have to look at the prices of all things," Reuters reported.
An audience member hollered back, "I can't eat an iPad!" -- Annalyn Censky
It's been a hot and cold year for the stock market, but these Fortune 500 companies managed to float to the top.
