The Most Dangerous Place for Inflation

Inflation of the 19 seventies is now half a century ago, and roger thinks we're in danger of forgetting the lessons it taught us. On both sides of the atlantic, rather than prices going up too quickly, governments and central banks have been more concerned they were hardly going up at all. In japan, stagnant or falling prices, deflation has been a persistent worry for decades. And i think the current generation of central bankers is very affected still by deflation anxiety and anxiety about financial instability after the financial crash ten years ago. They're not as attuned to the inflationary danger as the previousgeneration of central bankers was.