The real-life costs of central banks missing their inflation targets
klementoninvesting.substack.com
I often write about how inflation expectations matter much less (if at all) for future inflation and central bank policy. However, there is one area where inflation expectations matter a lot and where central banks missing their inflation targets can have a significant economic impact: government deficits.
The real-life costs of central banks missing their inflation targets
The real-life costs of central banks missing…
The real-life costs of central banks missing their inflation targets
I often write about how inflation expectations matter much less (if at all) for future inflation and central bank policy. However, there is one area where inflation expectations matter a lot and where central banks missing their inflation targets can have a significant economic impact: government deficits.