Economic growth and inflation

 

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Let’s hope it won’t take another 20-plus years to get members of Congress to admit that price stability should not be the Fed’s mandate.

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Old Fallacies Die Hard: Economic Growth Does Not Cause Inflation

Let’s hope it won’t take another 20‐​plus years to get members of Congress to admit that price stability should not be the Fed’s mandate. Given our fiat money system, it would be far better to require the Fed to target stable total nominal spending, thus allowing the price level to fluctua...