Mrs. Kirchner insists inflation is not a problem, even in the face of substantial evidence presented by private economists and local officials that the government's national statistics agency has been grossly underreporting inflation and poverty for four years.
Yet inflation hawks inside and outside the Fed insisted that inflation was as much a danger as recession, and called on the Fed to raise interest rates — generally not what you want to do when the economy is tanking.
Unlike the presidents before him, Reagan insisted that inflation be brought under control, even if the cost was high unemployment.
But she also insisted that inflation was likely to pick up in the months ahead, which would justify the Fed's interest-rate policy.
King insisted the inflation spike was due to short-term effects such as rising oil prices and the end of the 2.5% VAT cut, which would fade later in 2010 as the downward pressure from weak demand takes over.
I see some commenters reacting to the failure of major inflation to break out by insisting that inflation is defined as an increase in the monetary base — that is, the bank reserves plus currency that are what increases when the Fed "prints money".
Yet some economists and investors insist high inflation, even hyperinflation, is lurking in the wings.
China's leaders insist that inflation as firmly in check, below the government's target of three percent.
Mr Meirelles resisted pressure to slash interest rates in a hurry, insisting that inflation targeting came first.
A year and a half ago Argentine President Cristina Fernández de Kirchner insisted that if inflation were truly 25%, as independent economists reckoned, her country would "explode into the air".
