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Aug 27, 2022Liked by Peter Nayland Kust

I'm continuing to think of my earlier comment on the contradictory mandates of the Federal Reserve. If the Fed had a mascot, it should be the pushmepullya, the imaginary animal of Dr. Doolittle.

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"Never mind that an actual inflation target is nowhere in the Fed’s actual mandate."

I'll respectfully disagree with you on this point. Half the Fed's mandate is "stable prices". Personally, I think that means they should target an inflation rate of 0%, at least over the long term, since even 2% inflation has a drastic effect on prices (and the value of the currency) over a span of decades, such as a typical person's working career of 40-odd years.

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