The federal reserve does not control the price of oil for example. Controlling inflation is one of its function. Again: controlling it, not setting the inflatio

The federal reserve does not control the price of oil for example. Controlling inflation is one of its function. Again: controlling it, not setting the inflation rate. For example, there are/were fear of deflation when the inventory was high, and the demand low. With a interest rate set at pretty much 0%, there is not much else the reserve bank can do. So I stand by my statement, the government does not "inflate the prices by 3-5%" a year.