25 years since I wrote my book The Death of Inflation.
I wonder whether we can see now on the horizon the beginnings of a regime where the Fed actively seeks to get inflation running at a level significantly above 2pc, not just for a year or two but as the norm.
Of course, just because central banks want inflation to be above 2pc doesn’t mean to say that they will achieve this. After all, recently they haven’t been able to get inflation up to the 2pc target.
But there are some differences from the situation that existed before the coronavirus crisis.
Roger Bootle Telegraph 13 September 2020