“As if the worst recession since World War II, the near collapse of the financial system, and the prospect of double-digit unemployment weren’t enough to deal with, the Federal Reserve now has something else to worry about: success. Lately, a steady stream of economic data has suggested that while the economy is still shrinking, the pace of the decline is slowing. That, in turn, has stoked fears that the Fed’s efforts to steer the economy away from a 1930s-era depression would push the country toward ’70s-style inflation.” (Washington Post, Tuesday)
You don’t say.
FEE Timely Classic
“Inflation in One Page” by Henry Hazlitt
