Policy

Inflation Isn't Coming?

Sheldon Richman

Libertarian columnist Stephen Chapman sounds a dissenting note against the warnings of an approaching price inflation:

There is no indication that inflation is heating up this time, either. Investors wouldn’t be snapping up three-year Treasury notes at 1 percent if they were expecting their purchasing power to be ravaged by wolves any moment now….

The last epidemic of inflation, in the 1970s and early ’80s, was a searing experience, from which the Federal Reserve learned lessons it has no desire to repeat. Is inflation coming back? Sure. Right after the Ford Pinto.

It’s worth reading.

HT: Jeffrey Rogers Hummel

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