Buried Alive in ‘Businessweek’
Vol. 37, No.09a 233 Broadway, New York, New York 10279 • www.grantspub.com MAY 3, 2019 Buried alive in ‘Businessweek’ Things have come to such a sorry pass rency, the Fed chair, Jay Powell, replied, quality improvements where none ex- for the ancient scourge of paper money “It’s a major challenge. It’s one of the ists. They must make allowances for that Bloomberg Businessweek has written major challenges of our time.” cases in which today’s 15 cookies cost its obituary. Inflation is dead, declares Expanding on his boss’s remarks, what yesterday’s 16 did (clever packag- the cover of the April 22 edition (Hank Charles Evans, president of the Federal ing obscures the shrinkflation). Blaustein renders the image below). Reserve Bank of Chicago, last month ad- Considering the margin for er- “Dormant” is in fact the word, as we are vocated bumping up the inflation target ror—no less real for it being unac- about to demonstrate. by a few tenths of a percent. “Indeed,” knowledged—you wonder if there’s Businessweek isn’t wrong to ask what said Evans, “I would communicate com- a meaningful difference between a happened to the consumer price index. fort with core inflation rates of 2.5%, as 2.0% and 2.3% rate of inflation? Or Even the central bankers are feeling long as there is no obvious upward mo- even between 2.0% and 2.5%? sorry for it, rooting it higher. They want mentum and the path back toward 2% Evans implies that the Fed controls it, or, technically, the core personal con- can be well-managed.” the rate.
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