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“The price level today is greater than what it was expected to be in the absence of a pandemic and what the Fed implicitly said it would be given its two-percent inflation target. The price level has more than caught up with expectations. The question, now, is whether it will continue to grow so rapidly, remain elevated, or subside.” ~ William J. LutherREAD MORE
“Our current approach of alienation and intimidation only promises disappointment on both sides. Although there is no guarantee that warming relations would result in the liberal democratic reforms that the US desires for Cuba, anything would be better than the lose-lose policy of economic warfare.” ~ Ethan YangREAD MORE
“The U.S. economy has now entered unexplored territory, though this territory has unhappy similarities with Revolutionary-era hyperinflation, Civil War inflation of the 1860s, and the stagflation of the 1970s. None of these historical experiences were something anybody would want to relive.” ~ Robert F. MulliganREAD MORE
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