The Traderszone Network

Published in TZ Latest News 12 October, 2014 by The TZ Newswire Staff

Are the doves dishonest?

During the 1970s, the doves were consistently wrong, and for the most part denied they were wrong, even after the fact.  Inflation (they said) was caused by “non-monetary” factors.  Now we all know that was hogwash; NGDP was rising at 11% per year.  And non-monetary factors like oil shocks and strong unions have no impact on NGDP.

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