Low IQ central bankers

A good example of one is John Williams: “My own view is that it has been not that baffling,” Mr. Williams said, referring to low inflation. He noted that prices in some sectors such as health care and cellular services have been hit by downward movements, and that prices typically reflecting developments in the economy have been rising. “With a strong economy, history teaches us that inflation tends to move up,” he said. Mr Williams thinks inflation is a price phenomenon. Relative prices are always moving. Some prices fall while others increase. That´s the signaling nature of prices. Inflation, however,…

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