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Do Central Banks Have the Distinction to Do Something About Inflation?
We've been living in a low inflation world, we don't really know how people would respond to an attempt to get inflation under control. I think the answeris is not very much, because of the amount of debt thatthe there is in the world. The ceiling which they would reach for raising interest rays would be reached quite rapidly. As long as it plates, it doesn't have to keep being, it won't keep on being inflationry.