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Exact(29)
"They are counting on the Fed to be successful in generating inflation".
Mr. McTeer is known for his belief that the economy can grow at a robust pace without generating inflation.
Higher productivity means businesses can produce more for less, allowing profits and wages to rise without generating inflation.
But the economy has been growing at rates well beyond what most economists think can be sustained over the long run without generating inflation.
In the meantime, the economy has continued thundering along at a pace well above what most economists think is sustainable over the long run without generating inflation.
But generating inflation is not the same thing as putting people back to work, a goal that the Fed's monetary toolbox seems less equipped to meet.
Similar(29)
It might wait too long and let too much money generate inflation.
Domestically generated inflation is low, and headline inflation is declining too.
Mr. Meyer believes that with unemployment around 4percentt, even 3.5percentt annual growth might be enough to generate inflation pressures.
Look forward to more deficits and an increasing concern that the unspoken aim of all this is to generate inflation.
If banks were to withdraw the $1 trillion they hold at the Fed too quickly, it could generate inflation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com