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