The post at "FrumForum" is entitled - accurately - Fed Hawks Turn on the Unemployed:
Friday, August 12, 2011
|The Good Old Days!|
In our current debt-induced economic straits a higher inflation target will help solve some of the intractable problems of too many people owing too much money on undervalued assets:
In a column in The Financial Times this week, Ken Rogoff, the Harvard economist, suggested central bankers consider “the option of trying to achieve some modest deleveraging through moderate inflation of, say, 4 to 6 percent for several years.”
Mr. Rogoff conceded that “any inflation above 2 percent may seem anathema to those who still remember the anti-inflation wars of the 1970s and 1980s.”...