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Friday, December 4, 2009

Is inflation coming? Three short pieces from Allan Meltzer you should read.

From our good friends at the American Enterprise Institute....If you look at the political history of the Fed and the political pressure they will face to not tighten when the economy begins to recover, it does not look good for the future price level and its rate of change. Let's hope the Fed officials who claim they will increase the fed funds rate with the same "alacrity" they reduced it are as tough as they talk when the time comes.

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