Friday, September 24, 2010

Translating Bernankese

You know how we’re always worried about high inflation? Now we’re worried about low inflation. Crazy, right? High unemployment keeps wages low and prices flat. And most experts think that’s not going to change anytime soon. That’s why we think inflation will probably be low, too low, for a while.
Jacob Goldstein and Jeremy Singer-Vine, “Things Are Going to Be Bad For a While”, Slate, 21 September 2010.
HT: Thought du Jour

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