Inflation and the Economy
4th Quarter 2017
Inflation is much like the bears' porridge in the Goldilocks story. If too hot – as we remember from the gas lines and double-digit money market rates of the 1970's – the purchasing power of wages, pensions, and savings are quickly eroded. If too cold – as it is now – economists become wary of weakness in the underlying economies of developed nations. Currently, central bankers are struggling to get the porridge just right, and these concerns will have important implications for the future of interest rates both here and abroad.
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