Inflation Targeting—A Fatally Defective Policy Not Fit For Purpose

The battleship admirals’ award of the present era surely goes to the denizens of the Eccles Building. They insist there is no trace of the 1970s type inflation afoot—-so they keep on pumping-money at an hellacious pace in pursuit of their ritualistic inflation and maximum employment “goals”. But the roaring 1970s inflation was about soaring […]
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