2.00% Inflation Targeting—A Fed Folly Most Stupid

Inflation targeting has been a supremely stupid and pernicious idea from the get go, anchored as it is in the misbegotten Great Depression theory of Milton Friedman and his fanatical disciple, Ben Bernanke. Contrary to their contention, the Fed’s failure to crank-up its printing presses red hot between 1930 and 1933 did not cause that […]
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