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Not Your Grandfather’s Inflation, Part 4

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We have set the 100.0 fulcrum point on the chart below at Q4 1965 because it tells you all you need to know about your grandfather’s inflation. During the previous 14 years, real GDP grew at 3.9% per annum, and that occurred at a time when both the Fed and consumer inflation were well behaved. […]

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We have set the 100.0 fulcrum point on the chart below at Q4 1965 because it tells you all you need to know about your grandfather’s inflation. During the previous 14 years, real GDP grew at 3.9% per annum, and that occurred at a time when both the Fed and consumer inflation were well behaved. […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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