I don’t specifically remember, but I think I was mostly going for “only have to check the number in one place” (not expecting that the series would stop in 2019), and secondarily I expected we both thought inflation would be predictable, and so this provided some margin in the case where wages stagnated but didn’t fall by much.
I don’t specifically remember, but I think I was mostly going for “only have to check the number in one place” (not expecting that the series would stop in 2019), and secondarily I expected we both thought inflation would be predictable, and so this provided some margin in the case where wages stagnated but didn’t fall by much.