Quote:
Originally Posted by Tyrone Slothrop
Now you're just obfuscating. How we got to where we are is one thing; what we do going forward is another. The Fed has a dual mandate and it is ignoring half of it -- the unemployment half. It is fighting yesterday's war.
Economists have been looking at the relationship between unemployment and inflation for decades. If you really think there is none, and can prove it, you'll get a Nobel Prize.
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I'd have no problem arguing the Fed can't help if we were running 5% inflation and still had high unemployment. But there is no defense for having (CPI headline) inflation averaging around 1% over the last four years.
