Answer: Given current policy, and where it appears to be headed, I don’t think so. First, let’s review where we are, in terms of inflation. In the US, 12-month and 3-month headline CPI inflation rates look like this:Thanks for reading Monetary Non-Neutrality! Subscribe for free to receive new posts and support my work.
"So, if we believe the narrative, then the inflation rate actually came down on its own. Whatever made it go up - and there’s certainly no consensus about that, other than that it’s pandemic-related - those factors worked in reverse to make inflation come down. "
This makes the rise and then fall in inflation understandable!
"So, if we believe the narrative, then the inflation rate actually came down on its own. Whatever made it go up - and there’s certainly no consensus about that, other than that it’s pandemic-related - those factors worked in reverse to make inflation come down. "
This makes the rise and then fall in inflation understandable!
https://marcusnunes.substack.com/p/a-monetary-policy-whodonit