A Martian Assesses The Great 1970s Inflation

At the Federal Reserve conference in Jackson Hole this week, all attention was on inflation. Chair Jerome Powell seemed to have moved the markets when his tight-money comments coincided with a 1000-po...

Hi, Stagflation

We’re officially here. Growth is negative and inflation is at 9 percent. It’s 1974 all over again. In that year, all twelve months were spent in recession (one that lasted a year and a third) as price...