A Bad Inflation Idea That Won't Die

Shooting for a faster rate of inflation, something several economists have recommended is a bad idea that deserve to die.

If there was any consolation in the Sunday New York Times front-page article, "In Fed and Out, Many Now Think Inflation Helps," it was that the "in Fed" names were few and far between. Yes, Federal Reserve Vice Chairman Janet Yellen, who was nominated to replace Ben Bernanke in January, is mentioned in connection with the idea that "a little inflation is particularly valuable when the economy is weak." But that was it.

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