Everybody Was Wrong About Inflation
Plain English with Derek Thompson
Inflation Predictions: A Critical Review
This chapter critiques the numerous forecasts regarding U.S. inflation and economic conditions, emphasizing the widespread underestimation of actual inflation rates. It explores the discord between predictions and reality, including the unexpected inflation trends in various goods and the underperformance of Bitcoin against traditional stocks. Additionally, the chapter analyzes the psychological effects of inflation statistics on consumer behavior and reflects on the miscalculations that shaped the understanding of inflation in 2021.
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