Yes, and the immediate future of indefinite tiny interest rates only will exacerbate this. If the Fed assumes responsibility for the many public pension funds already badly underfunded (a trillion here, a trillion there), we may finally get the inflation at the price level we richly (no pun intended) deserve.
Yes, and the immediate future of indefinite tiny interest rates only will exacerbate this. If the Fed assumes responsibility for the many public pension funds already badly underfunded (a trillion here, a trillion there), we may finally get the inflation at the price level we richly (no pun intended) deserve.