The Fed Faces Two Choices A man shipwrecked bobs along in his lifeboat… The cruel sun cooks him. His thirst tortures him. His sufferings are doubled, tripled and quadrupled by this impossible irony: Water, water is everywhere — yet there is scarcely a drop to drink. Salt water in any quantity would murder him. Thus he dangles from the hooks of a lethal dilemma. He dies if he does not drink… and he dies if he does drink. The Federal Reserve offers a parallel example. It is the agonized wretch in the lifeboat. It is mad for inflation. Yet inflation is lethal…