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A Little Inflation Can Be a Dangerous Thing
Paul A. Volcker
09/18/2011
www.nytimes.com
In all the commentary about Ben S. Bernanke’s recent speech in Jackson Hole, Wyo., little attention has been paid to six crucial words: “in a context of price stability.” Those words concluded a discussion by Mr. Bernanke, the Federal Reserve chairman, of what tools the central bank could consider appropriate to promote a [...]
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