Dollar Liquidity
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How could he be right 'all along'? He thought Fed policy was too loose up until January 20th, 2017 at 12:01pm, then he thought it was too tight.
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I still am not sure what is the benefit of inflation? In an aging society, more and more people go to fixed income.
Yes, inflation can hold back wages, but if those two are equal, it really isn't a benefit to have increasing wages, right?