NY Fed Prez Angers Hungry Mob With iPad 2 Gaffe
But here's a piece of advice: When trying to explain to a crowd of angry people that inflation isn't really that bad and that the economy is doing well, you probably shouldn't turn to a luxury item like the iPad 2 as your example of economic stability. William Dudley, president of the New York Federal Reserve Bank, was speaking to a crowd in Queens on Friday when he was bombarded with questions about rising food prices. Dudley's explained that while some prices were rising, others were definitely falling. "Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," he told the crowd.
According to Reuters, an audience member responded, "I can't eat an iPad."