Inflation

Re “Fed Holds Rates Steady but Warns Its Bias Has Shifted,” May 19: By declining to raise interest rates to curb inflation Robin-the-Hood Greenspan has again robbed the poor to give to the rich. As the rate of inflation increases, the working class will pay more for housing, food and clothing while their IRA, 401(k) and pension-plan funds will become devalued.

PHIL LENNOX

Alhambra