A stupid question to economics twitter. Why has inflation been so low for so long, despite all the money sloshing around the economy? 1. For an obvious reason I'm too basic to understand (give me links!) 2. For a subtle reason I'm too dim to understand (link me!) 3. Nobody knows
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Replying to @Pinboard
I view this as a failure of orthodox economics, but I know we do not share political priors. Here is a pretty solid article from the SF Fed with background. Central banks have (obviously) been trying to figure this out for a while.https://www.frbsf.org/economic-research/publications/economic-letter/2019/july/why-is-inflation-low-globally/ …
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Replying to @ilrosso_
I don't care if we politically disagree if you have an interesting answer.
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