In part 1, I walked us through the basic macro model of aggregate supply and aggregate demand to show that either increased demand or decreased supply, or both, could lead to higher prices. In this post, I want integrate money into the picture, since I agree with Milton Friedman’s famous dictum, “inflation is always and […]
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Inflation as measured by the Consumer Price Index hit 5.4% year-over-year in September, which is over double what the Federal Reserve said is its goal (2%). There are increasing numbers of Fed critics joining your friendly neighborhood Bereans, most humorously by former Treasury Secretary Larry Summers: SYDNEY–Former U.S. Treasury Secretary Larry Summers has sounded alarm […]
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This Berean thinks so–so let me defend why. I was quite surprised when I heard the Biden Administration say that they had many Nobel economists* endorse the “Build Back Better” plan, but I was especially surprised that the Biden administration claimed these economists said the plan would ease inflationary pressures. I figured there had to […]
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach