There are a lot of problems with what is said here.

First the money supply is not decreasing but increasing with no sign of this trend stopping. Also if you ever go to a store to buy anything like milk, meat, fish , vegetables, fruit, or cereal you will find that inflation is well and flourishing.

The Federal Reserve Open Market Committee does not tell you what the "average person" faces.  The FOMC has a way of distorting the truth.  For years the Fed has measured inflation by removing the price of oil and food stuff!! What a pile of c.r.a.p.  .....those are the two areas that most ordinary people are concerned about!!

I feel we have not seen the end of price increases in the US and Canada yet for "goods" made in overseas countries.  As the US dollar goes in the tank ( as I feel it will continue for some time) the price of all these goods will increase.  China at some point will adjust their money upward and  prices to the western world will go up.  China has been absorbing these price increases now because they have large margins on goods that they make...at some point the prices will increase.

I also do not think we have seen the end to the increases in metals..gold has a long way to go and the industrial metals ( after a pause) will continue to rise..... commodities are strong

I for one think Mr. Kevin Depew is all wet....