I don’t see any signs that inflation calculations are expected to become less honest. There are certainly lots of opinions about how well the CPI measures what we want it to measure, but it has worked pretty well for Fed policy issues in the past, and I expect that to continue.
I don’t see any signs that inflation calculations are expected to become less honest. There are certainly lots of opinions about how well the CPI measures what we want it to measure, but it has worked pretty well for Fed policy issues in the past, and I expect that to continue.