07-21-2016, 12:25 AM
Going through some of these old Kudlow posts is like having a field day..
Kudlow says, inflation is zero, and inflation is caused by bad money. So he's saying Yellen is doing an excellent job! Yet the title argues that she's "not letting middle-class workers prosper"
How's that?!
Then, he argues that the Fed wants inflation to be 4%-5%, but the article warns the Fed not to hike rates:
They actually are sticking to price stability, and raising rates would reinforce that!
Is this guy confused or what?
Quote:The Fed's Phillips curve model isn't working anyway. The unemployment rate has come down to 5 percent and the inflation rate is near zero. According the Fed, inflation ought to be 4 or 5 percent. It's not. The dollar is up. Oil and commodities are down. There is no global rise of inflation. And there's a strong worldwide demand for greenbacks. This is good, not bad, according to veteran free-market economist Alan Reynolds. He's right. What causes inflation? Bad money. Excess money. Too much money chasing too few goods. How do we measure this? We use market-price indicators, such as commodities, the dollar exchange rate, and Treasury inflation expectations.The Fed Should Let Middle-Class Workers Prosper | RealClearPolitics
Kudlow says, inflation is zero, and inflation is caused by bad money. So he's saying Yellen is doing an excellent job! Yet the title argues that she's "not letting middle-class workers prosper"
How's that?!
Then, he argues that the Fed wants inflation to be 4%-5%, but the article warns the Fed not to hike rates:
Quote:The Fed should wise up and stick to price stability rather than slamming workers.The Fed Should Let Middle-Class Workers Prosper | RealClearPolitics
They actually are sticking to price stability, and raising rates would reinforce that!
Is this guy confused or what?