i think the there's always a, i think it the back monitoris monetary theorists like yourself, a an e, who advisen, encourage the fed to do certain things. There's a risk of hyper inflation at a time. Prices could double every year. And what that starts to do is discourage the use of the economic system for exchange in goods. It encourages people to barter, because goods a stay keep their value and money doesn't o. If you start to destroy the use of currency, way for people to exchange goods, get a lot poorer as for sure.
What's so bad about rising inflation? Why should we aim for a rate of 2 percent? Why is it a problem if interest rates are too low--and what do we mean by inflation, anyway? Stanford University's John Taylor talks with EconTalk host Russ Roberts about these questions, the Taylor Rule, why inflation is rising, and what the Fed should do about it. At the end of the conversation, Taylor discusses whether stimulus stimulates and the dangers of the national debt.