Inflation and the Dangers of False Narratives

Source: Show-Me Institute
by Aaron Hedlund

“With the release of inflation data over the past two weeks — consumer inflation (CPI) late last week and producer inflation (PPI) this week — glimmering signs of hope are emerging that 1970s and ’80s-era inflation may finally be in the rearview mirror. Predictably, this has led to crowing by the Biden administration that its policies deserve the credit, but the reality is quite the opposite. The administration’s glut of spending helped fuel the inflation to begin with, and the Federal Reserve has been cleaning up the mess over the past year after finally abandoning its use of the word ‘transitory’ to refer to what clearly has been a persistent bout of inflation.” (01/20/23)