As long as they keep trying to fight 1940s-style inflation with 1970s-style monetary policy, they're going to have a bad time. Can't tighten policy this quickly when debts are this high and not break a lot of things.
LynAlden on Nostr: Powell keeps referring to the 1970s when talking about inflation, when really he ...
Powell keeps referring to the 1970s when talking about inflation, when really he should be referring to the 1940s.
As long as they keep trying to fight 1940s-style inflation with 1970s-style monetary policy, they're going to have a bad time. Can't tighten policy this quickly when debts are this high and not break a lot of things.
As long as they keep trying to fight 1940s-style inflation with 1970s-style monetary policy, they're going to have a bad time. Can't tighten policy this quickly when debts are this high and not break a lot of things.