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Last year, the Fed announced a policy termed “flexible average inflation targeting.” The basic idea is that the Fed commits to insuring that PCE inflation will average roughly 2% over an extended period of time,…
Last week, Don Boudreaux over at CafeHayek did a nice appreciation of William R. Allen, co-author, with Armen Alchian, of the excellent University Economics textbook. Allen died last week, only a few months before his…
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