Oh noes! Inflation!
Posted June 12, 2009 - 00:39 by Philip Brewer
The Wall Street Journal has an opinion piece by Arthur Laffer that shows a scary graph of the monetary base, which has surged enormously in the past year. He suggests that this is "potentially far more inflationary" than the monetary policies of the 1970s. I'm as worried about inflation as anybody, and agree that the Fed should already be taking steps to minimize it, but I think Laffer is off-base here.
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