Stop Inflating the Inflation Threat
J. Bradford DeLong
Project Syndicate, Oct 29, 2019.
Given the scale and severity of inflation in America in the 1970s, it is understandable that US monetary policymakers developed a deep-seated fear of it. But, nearly a half-century later, the conditions that justified such worries no longer apply, and it is past time that we stopped denying what the data are telling us.