Now that the US midterm election is over, markets and the financial press are returning to a more dovish outlook and concluding that major sources of inflationary pressure were transitory after all. But it may not last, because monetary policy appears to have been following politics more closely than its practitioners want to admit.…

Project Syndicate (free registration may be required to read)
Think Again About Persistent Inflation – and the Non-Partisan Fed

James K. Galbraith | Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin

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Title Of post: Think Again About Persistent Inflation–and the Non-Partisan Fed — James K. Galbraith
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