Tom McKay

Kenneth Rogoff, the influential economist who foreshadowed the long slog since the GFC of '08 is calling for a new type of central banker at the Fed, one who welcomes inflation. We're in this situation where many of the central banks of the world need to convince the public of their tolerance for inflation, not their intolerance. In the U.S., inflation has been below the Fed's 2 percent target for 14 months in a row, even as the central bank has expanded its balance sheet to a record $3.59 trillion in an effort to support the economic recovery. (VIEW LINK)


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