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Inflation Remedies

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Add to Bookmarks Jan 20, 2022 Inflationary pressures persisted in leading advanced economies in December, with the year-on-year increase in US consumer prices reaching a four-decade high of 7%, and eurozone inflation climbing to 5% – its highest level since the introduction of the euro. While debate continues as to the right policy response, the current episode will doubtless hold important lessons for the US Federal Reserve, the European Central Bank, and economic forecasters alike. In this Big Picture, John H. Cochrane of the Hoover Institution argues that the

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Inflationary pressures persisted in leading advanced economies in December, with the year-on-year increase in US consumer prices reaching a four-decade high of 7%, and eurozone inflation climbing to 5% – its highest level since the introduction of the euro. While debate continues as to the right policy response, the current episode will doubtless hold important lessons for the US Federal Reserve, the European Central Bank, and economic forecasters alike.

In this Big Picture, John H. Cochrane of the Hoover Institution argues that the Fed has not only failed to ensure price stability, but has also created dangerously misaligned incentives in the US financial system. Likewise, Jürgen Stark, a former member of the ECB Executive Board, Thomas Mayer of the Flossbach von...

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