BRIEFLY NOTED: For 2021-04-15 Th

If the Fed had hit its target since 2007, the price level now would be 9.6% higher than it is. When excess of C.P.I. core inflation reaches +9.6%, come and ask me again whether Federal Reserve policy is excessively inflationary. Until then, we certainly have other much more important economic problems to worry about than the risks of excessive and damaging inflation.

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