In yet another follow-up to yesterday’s Bernanke’s Disingenuous Message to Savers, it certainly looks like Fed Chief Ben Bernanke is the second coming of Arthur Burns when looking at real interest rates (i.e., the Fed Funds rate minus year-over-year inflation).

Note that the 2012-2014 period assumes the current 3.0 percent inflation rate and zero percent Fed Funds rate continue for three more years – it might move up a little, but not much. Also, that little red sliver in 1978-1979 represents G. William Miller’s tenure as Fed chief – it hardly seemed worth it to put his name up there.