Source: Law & Liberty
by Iain Murray
“It’s rapidly becoming the received wisdom that an important reason President Trump won the 2024 election was because inflation matters. Too many hard-working families had seen their household budgets shrink, even as the federal government continued to engage in record levels of spending. In doing so, the Biden administration ignored the wisdom of the late Milton Friedman that central bankers always overcorrect at the sign of economic contraction. President Biden even made the connection explicit: ‘Milton Friedman isn’t running the show anymore.’ But it turns out Friedman was right — increasing spending and printing money are a recipe for inflation, and voters hate inflation.” (12/02/24)