Hmmm, one scenario is people trade asset prices so they have inflation expectations embedded, then the fed treats the economy as though it were there. What other mechanism is there?
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I guess thats the main one I was mostly thinking about toy macromodels with E(i) as a variable
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Inflation always has a social component
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Expectations are everything
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That’s, realistically, the thing I happen to worry about the most. However if us Germans haven’t managed to hyperstition inflation into happening why should Americans manage to do that?
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dont you guys have legendary fiscal discipline
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Are people aware that inflation is good if you don't own any assets aka almost all people
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well within reason
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