The Bizarre Sweet Spot of Inflation

The rate of inflation is falling, but the rate of output is rising. So that means there must be some deep productivity gains going on within the system. If the yanks have managed to engineer a soft landing, the only historical points of reference they have are the late 1950s and early 1960s before Keynesianism was undermined by inflation. We could be going back to this extraordinary period, grace period in America.