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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Wyätt Gwyön who wrote (35782)7/11/2005 6:04:04 PM
From: CalculatedRisk  Read Replies (1) of 110194
 
Because he says so<G>.

Bernanke has written extensively on the negative aspects of inflation. Like this:

"In my earlier speech, I gave the Great Inflation of the 1970s in the United States as an example of what can happen when inflation expectations are not well anchored. Contrary to the belief in a long-run tradeoff between inflation and unemployment held by many economists in the 1960s, unemployment and inflation in the 1970s were both high and unstable. Even today conventional wisdom ascribes this unexpected outcome to the oil price shocks of the 1970s. Though increases in oil prices were certainly adverse factors, poor monetary policies in the second half of the 1960s and in the 1970s both facilitated the rise in oil prices themselves and substantially exacerbated their effects on the economy."
Ben Bernanke March, 2003
federalreserve.gov

I think he will surprise people.
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