SamRT @rodrikdani
So what is the evidence that persistent single-digit inflation, even in the 5-9% range, is damaging to the real economy, if it is accommodated? Or is the argument that inflation is never stable in that range? What is the evidence for the latter?
So what is the evidence that persistent single-digit inflation, even in the 5-9% range, is damaging to the real economy, if it is accommodated? Or is the argument that inflation is never stable in that range? What is the evidence for the latter?