The Federal Reserve claims that its decisions to raise or lower interest rates are well reasoned and in line with the inflationary environment. Yet the Fed’s inflation crystal ball is highly clouded, creating a backdrop for monetary policy that may do more harm than good. Bloomberg writer Peter Coy finds that, while inflation is notoriously difficult to measure or forecast, some economists are examining promising new ways to do just that. getAbstract recommends this intriguing article to financial forecasters, economists and others interested in the pitfalls of price predictions.
About the Author
Peter Coy is the economics editor of Bloomberg Businessweek.
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2 years agoThis is tragic. For a good insight on inflation read Prof. Murray Rothbard’s “what has government done to our money’.
It’s a classic among libertarians and proponents of the Austrian school.