Ending transitory inflation is easy

It’s easy to end a transitory inflation.  It’s hard to end a persistent inflation.  That’s why it’s essential that central banks engage in “level targeting”.  Level targeting makes all inflation transitory. When the Korean War broke out in June 1950, the US economy was experiencing a period of mild deflation.  By February 1951, the 12-month … Continue reading Ending transitory inflation is easy