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Why former fed chair Alan Greenspan is wrong about inflation estimates
Alan Greenspan, who used to be an important person, says the government’s inflation figures are wrong. Esther George, who is still important — as the head of the Kansas City Federal Reserve, — also says the inflation numbers are wrong. But George thinks they are wrong for the opposite reason as Greenspan who, as boss of the Fed during the 1990s, made lots and lots of mistakes, including ones on inflation. George says the government’s information underestimates inflation while Greenspan thinks it overestimates price increases. “I hear few complaints about inflation being too low,” George said in a speech ... (full story)