Isn't it annoying when the price level and the rate of inflation are confused? Or when bringing down the inflation rate is confused with reducing the price level? See my recent (Feb. 20, 2023) letter in the FT: https://www.ft.com/content/e7fff27b-0c10-47a7-b9a0-d6470b80c68c. (Subscription may be needed.)
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Over the past two years, many economies with independent central banks and formal inflation targets, including the UK, the U.S., and the E...
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In chapter 2 of my book Monetary Theory and Policy (The MIT Press, 4 th ed., 2017 ) , I called the problem of establishing a positive va...
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This week’s FOMC statement and Chair Powell’s press conference rightly stressed the progress that has been made in controlling inflation, ...
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