"Because changes to the measurement methodology of inflation in 1983 have led to the persistent understating of real rising price levels for the median household, thereby clouding the Fed’s policy decisions."

I'm unclear how a methodology change in characterizing inflation starting 35 years ago underestimates inflation from year-to-year starting 10 years ago. Is the inflationary effects of doubling M2 reflected in non-housing CPI components being washed out by significant decreases in rental costs?

"Since rent growth has been much lower"--