Great Inflation’s Echo From 1966 Serves a Warning to Yellen Fed

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Janet Yellen, chair of the U.S. Federal Reserve, speaks during her semiannual report on the economy to the Senate Banking Committee in Washington, D.C. on July 16, 2015.

Photographer: Drew Angerer/Bloomberg

Bob Dylan released “Blonde on Blonde” and Ronald Reagan was elected governor of California. “How the Grinch Stole Christmas” was televised for the first time.

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