Thinking about Inflation
by Paul Hoffmeister, Chief Economist
Inflation is always and everywhere a monetary phenomenon.
What could keep a lid on Inflation.Energy prices are biggest inflation risk.Historical View of Money and Inflation
Milton Friedman famously said, “Inflation is always and everywhere a monetary phenomenon.” This is the fundamental idea behind the monetarist school of economics that focuses on controlling the money supply to control the price level.
If there is inflation, then the