The Everlasting Folly Of Central Bank Inflation Targeting, Part 1

The arrogant blindness of our central bankers is staggering. Have they ever noticed the chart below? Do they think they can get away with this transgression against monetary sanity indefinitely? Indeed, this chart gives the concepts of recency bias, group-think and ahistorical myopia wholly new definitions. That’s because during the past 70 years the essence […]
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