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Look at 1960s, not 1970s, to learn how US inflation took hold
Central bankers have been playing down concerns about persistently higher inflation by affirming there is no danger of a return to the wage-price spirals of the 1970s. However, in examining historical parallels with America’s latest 6.2% inflation rate, a 31-year high, analysts may be looking at the wrong period. The 1960s story of the Federal Reserve’s unsuccessful fight against rising prices shows striking similarities to today’s patterns – providing uncomfortable lessons for policy-makers around the world. In the wake of President Joe Biden’s 22 November decision reappointing Fed Chair Jerome ‘Jay’ ... (full story)
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- Nov 22, 2021 11:29pm Nov 22, 2021 11:29pm
- AnniLi
- | Commercial Member | Joined Jan 2015 | 2212 Comments
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- Edited 10:08am Nov 23, 2021 6:33am | Edited 10:08am
- UKBanter
- | Joined Mar 2017 | Status: Member | 938 Comments
The elites think we are stupid. They are in the main quite correct.