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The monetary policy behind today’s low inflation will keep working until, suddenly, it doesn’t.

This makes me wish that I had a better understanding of monetary policy and inflation.

It also makes me wish that the people responsible for monetary policy had a better understanding than I have.

Robert Barro Project Syndicate 4 July 2019

Robert J. Barro is Professor of Economics at Harvard and a visiting scholar at the American Enterprise Institute. 

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