Actually, house prices are not factored into the CPI per se. The CPI is based on a basket of goods for an urban consumer who rents (so does include rent). If

Actually, house prices are not factored into the CPI per se. The CPI is based on a basket of goods for an urban consumer who rents (so does include rent). If you don't fit that profile, the CPI may well not have much applicability to you.... Aslo, the Fed is not desperately pumping money into circulation. For example, they're paying interest on reserves (that is, paying banks to park money in accounts at the Fed). If they were trying to get money into circulation, the wouldn't be doing that, or would even be charging interest on excess reserves. Both policies have been used by central banks in the past; in fact the Fed didn't use to pay interest on reserves until the recent bank crisis started.