The Inflationary Impulse

Jared: Andreas Steno Larson showed a chart that he showed lining up the current period with the 1970s, I thought was quite sobering. Jared: The most important takeaway from that chart isn't the exact fit of the data; it's the fact that you got a double dip on this inflation. Jared: Right now we're having this disinflationary impulse. But inflation is really about psychology. And we haven't killed the inflation psychology yet.