Ron Insana: Fed Should Be Fighting Deflation as Prices Fall

Economic guru Ron Insana warns that the Federal Reseevr faces a return of deflation despite its aggressive monetary policies because crude oil and other commodity prices are collapsing.

The CNBC and MSNBC contributor warns that food prices just may be the next to skyrocket after Amazon’s foray into groceries.

“Amazon’s acquisition of Whole Foods was, and will be, inherently deflationary. The operating efficiencies that Amazon brings to the grocery, and home delivery, business will further drive down prices and eventually spread to other areas of consumer goods,” the author of four books on Wall Street recently wrote for CNBC.

“Deflation in retail, as structural changes drive many sellers of goods out of business, means that retail real estate will deflate, as well, as surplus stores are shuttered and stand-alone stores are re-purposed for other uses over time,” he explained. Deflation is commonly defined as a sustained period of falling consumer prices.

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