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by OscarCunningham
2736 days ago
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> inflation over the last 100 years prior to the US coming off the gold standard. There was basically none, but it has since sky rocketed. Sure, but I don't think that the high inflation between 1934 and 1976 can be used to judge the current system with an independent central bank and an explicit 2% inflation target. > I did a quick google and found this right at the top: https://www.bloomberg.com/news/articles/2018-05-02/the-consu... The proposed measure merely claims to be faster to respond to changes in prices. Note how the new measure is lower than CPI during the crisis, but higher elsewhere. In the long term they should be the same. So I don't think that this suggests that inflation is being systematically underestimated. |
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