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The central bank should not telegraph its intentions.  Ideally you'd like to have a steady inflation rate and a solid economy.  In good times that's fine.

In the times in which we live, the central bank ought to maintain flexibility to do what it needs to do to help put the economy back on track and people back to work.  If that means higher inflation for a while, so be it.  Hence the shouts from the Krugmans of the world at Bernanke in recent years.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Sun Mar 17th, 2013 at 01:06:18 PM EST
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