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Krugman: Inflation Nation Not
Hey, does anyone remember the great inflation panic of 2011? All the usual suspects were issuing dire warnings about soaring inflation, and ridiculing the Fed for focusing on core inflation rather than headline changes. So, how’s it going?
Actually, at this point the Fed is worried that inflation is too low.
http://krugman.blogs.nytimes.com/2013/04/29/inflation-nation-not/
The 'usual suspects' Krugman refers to are the austerity hawks who always want the government to cut the deficit and spend less to avoid the 'inevitable' inflation that they always assume goes with deficit spending - despite all evidence to the contrary.
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