BONUS: George Hall on Financing World War II and Managing Post-War Debt
Macro Musings with David Beckworth
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COVID: A Change in the Political Constituencies
Inflation is not going to last forever either. We would need low interest rates or we need more rapid real GDP growth or primary surpluses. And all of those, maybe lower interest rates will return. But runningPrimary surpluses definitely seems off the table. If I had to guess, robust real GDP growth doesn't seem near in our future either. It might just be inflation is our only available tool that we have for us.
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