Sunday Funnies: 'The Inflationists'
In macro if you're not laughing, you're crying.
Today’s post’s short on the writing and long on laughter. The video and podcast here are a fun way to figure out what the heck the macros are arguing about.
Watch this video from the amazing Maia @neoliviaral. You’ll laugh and learn!
Then listen to me on Off Kilter with also amazing Rebecca Vallas @rebeccavallas. I set this macro war in context and then demolish The Inflationists. It’s a fun. I promise.
More to come from me on The Inflationists.
Larry Summers is an inflation concern troll. And the next time he is right will be the first time.
So what if we get to "too full" employment and inflation expectations are running above 2% PCE and the Fed decides to do something, like raise ST interest rates, to bring inflation expectations back down to 2% PCE? That's just the way monetary policy is supposed to work.