Inflation
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AIER’s Everyday Price Index Sees Biggest Monthly Jump since January
“Despite some improvements since the apparent peak 13 months ago, consumers and businesses are still contending with 31 months of above-trend rising prices.” ~ Peter C. Earle
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What’s the Harm in Raising the Inflation Target?
“In addition to increasing workers’ real tax burden, raising the inflation target reduces workers’ real wages by reducing the demand for their labor services.” ~ Bryan Cutsinger
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Monetary Policy Remains Sufficiently Tight
“There’s no returning to the pre-pandemic trend for the price level. We’re left with permanently higher prices. Hopefully, the Fed continues to bring inflation down gradually.” ~ Alexander W. Salter
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The Floor System Fails
“During normal times, when inflation is low and stable, the floor system increases the burden on taxpayers. The burden is even larger when inflation is high, as it has been over the past two years.” ~ Louis Rouanet
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Why Are Mortgage Rates So High?
“Interest rates on mortgages were 2.66 percent just two and a half years ago. Why the sudden increase in rates? The Federal Reserve increased the money supply and generated the worst inflation in many years.” ~ Gerald P. Dwyer
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Against a 3 Percent Inflation Target
“If the Fed can really make such an elementary error and get away with it, a major prudential reason for keeping it around would no longer hold.” ~ Alexander W. Salter
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Inflation is Back on Target
“People have renegotiated their wages and purchase orders with those new expectations in mind. To course correct at this late stage would amount to a very painful contraction.” ~ William J. Luther
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Whipped Inflation Now
“The battle for 2 percent inflation has already been won. Fed officials should acknowledge and celebrate the victory.” ~ William J. Luther
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Inflation: Expected and Unexpected
“Expectations may be rational, but this doesn’t mean they’re right. And, this doesn’t mean there won’t be hell to pay when they’re wrong.” ~ Clifford Thies
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Alan Blinder’s Inflationary Incoherence
“There’s nothing wrong with making incorrect predictions. It happens to all of us. There is something wrong with obstinacy in the face of overwhelming contradictory evidence..” ~ Alexander W. Salter
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•
AIER’s Everyday Price Index Sees Biggest Monthly Jump since January
“Despite some improvements since the apparent peak 13 months ago, consumers and businesses are still contending with 31 months of above-trend rising prices.” ~ Peter C. Earle
-
•
What’s the Harm in Raising the Inflation Target?
“In addition to increasing workers’ real tax burden, raising the inflation target reduces workers’ real wages by reducing the demand for their labor services.” ~ Bryan Cutsinger
-
•
Monetary Policy Remains Sufficiently Tight
“There’s no returning to the pre-pandemic trend for the price level. We’re left with permanently higher prices. Hopefully, the Fed continues to bring inflation down gradually.” ~ Alexander W. Salter
-
•
The Floor System Fails
“During normal times, when inflation is low and stable, the floor system increases the burden on taxpayers. The burden is even larger when inflation is high, as it has been over the past two years.” ~ Louis Rouanet
-
•
Why Are Mortgage Rates So High?
“Interest rates on mortgages were 2.66 percent just two and a half years ago. Why the sudden increase in rates? The Federal Reserve increased the money supply and generated the worst inflation in many years.” ~ Gerald P. Dwyer
-
•
Against a 3 Percent Inflation Target
“If the Fed can really make such an elementary error and get away with it, a major prudential reason for keeping it around would no longer hold.” ~ Alexander W. Salter
-
•
Inflation is Back on Target
“People have renegotiated their wages and purchase orders with those new expectations in mind. To course correct at this late stage would amount to a very painful contraction.” ~ William J. Luther
-
•
Whipped Inflation Now
“The battle for 2 percent inflation has already been won. Fed officials should acknowledge and celebrate the victory.” ~ William J. Luther
-
•
Inflation: Expected and Unexpected
“Expectations may be rational, but this doesn’t mean they’re right. And, this doesn’t mean there won’t be hell to pay when they’re wrong.” ~ Clifford Thies
-
•
Alan Blinder’s Inflationary Incoherence
“There’s nothing wrong with making incorrect predictions. It happens to all of us. There is something wrong with obstinacy in the face of overwhelming contradictory evidence..” ~ Alexander W. Salter