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3min chapter
12 Things Everyone Got Wrong About Inflation
The Compound and Friends
The Fed's Risk Tolerance to Inflation
When you ask a bunch of random people by phone, where is inflation going to be in five years, LOL? What are they going to tell you? Whatever happened the past couple of months, they'll extrapolate five years out. So why do we ask that question of people? And where does that data actually wind up? Does anyone actually use it for anything seriously? Or is it just like something they use to write Wall Street Journal articles about? The data comes from the Fed Zone survey. If you listen to some of the Jerome Powell pressers and some of the speeches, he and other FOMC governors have given,. They say this gives us some insight into what's happening.
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