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GUEST VIEW: This is not your father's inflation

The Herald
 2021-07-30

Cover picture for the articleAnybody who remembers the 1970s remembers the Great Inflation, when retirees on fixed incomes struggled to make ends meet. They probably also remember what happened next, when the Federal Reserve under Paul Volcker tightened the money supply, driving down prices by driving down the economy, forcing two recessions that lowered consumer spending and increased unemployment.

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