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Is 2% the Right Rate of Inflation?
I don't know what exactly is the right rate of inflation, but we certainly know that anything over 2% or so seems to be problematic. At a minimum, it's consistent with social upheaval and bigger societal problems which do cause meaningful declines in living standards. So I think we can all agree that nobody wants a high level of inflation,. But whether or not we want 0% inflation or 1% or 2%, I think is a much more reasonable debate.
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