From Discourse Magazine <[email protected]>
Subject What the surge in inflation should teach economists
Date October 3, 2022 11:36 AM
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Interest Rates and the Fallacy of Historical Trends
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Jack Salmon and
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Veronique de Rugy September 28, 2022
In recent years, politicians have run up the national debt, encouraged in part by economists who were extremely confident that interest rates would remain at historically low levels into the foreseeable future and that we had once and for all conquered inflation. But now that inflation is its highest level in 40 years and interest rates are rapidly rising in response, the U.S. government is facing a possible fiscal crisis as it must pay more and more to finance its huge and still growing debt.

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