The Phaserl


The Scary Deflation Monster: The Fed vs. Prosperity


Janet Yellen may be the new monetary sheriff in town, but she harbors the same old phobias her predecessors had—a fear of the scary deflation monster.

The new Fed chair told the Economics Club of New York, “The FOMC strives to avoid inflation slipping too far below its 2 percent objective because, at very low inflation rates, adverse economic developments could more easily push the economy into deflation. The limited historical experience with deflation shows that, once it starts, deflation can become entrenched and associated with prolonged periods of very weak economic performance.”

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1 comment to The Scary Deflation Monster: The Fed vs. Prosperity

  • Ed_B

    Yeah, deflation is a terrible thing. When it hits, we all have to buy more goods and services for less money. Oh, the pain… oh, the tragedy. Sheesh, already, and give me a break.

    The big bad bogey monster of deflation is not at all scary… unlike the Godzilla of ALL monetary events… HYPER-INFLATION! RAAWWWRRRRR! CHOMP!! X-p

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