Editorial Board
Uncaged Inflation, a Beast Easy to Free, Hard to Control: View
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Inflation? No, thank you.
We just endured and survived a major political crisis over the possibility that the U.S. government might default on its debts. Most people -- other than a few high-stakes poker players on the right wing of the Republican Party -- agreed that this would be a terrible thing. But now, a growing number of voices, mainly on the left wing of the Democratic Party but also in the Federal Reserve, are calling for what is in effect default in slow motion. It goes by the name of inflation.