Thirty Years Of Inflation History

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"Thirty Years Of Inflation History"

Just a quick reminder:

I think Reagan had this right. Inflation that averages around four percent is consistent with robust growth and minimizes the risk that the nominal interest rate on short-term government debt will go to zero. Efforts to maintain a 2 percent ceiling on inflation have brought few concrete benefits and put policymakers in the unnecessarily difficult position of trying to conduct unorthodox monetary policy measures during a time of economic crisis when elites necessarily come under suspicion.

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