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Wholesale prices were rising in 1936, setting off inflation fears.
Economic growth would accelerate until it overheated, setting off inflation.
Increases in productivity allow companies to increase their profits without raising prices and setting off inflation.
At the Fed, meanwhile, some officials were warning — incorrectly, it's now clear — that the economy could be at risk of growing too quickly and setting off inflation.
Growth of 9% now looks more like a cyclical peak than a permanent achievement: bottlenecks throughout the economy mean it cannot go faster without setting off inflation.
As productivity increases, wages and profits can rise without setting off inflation, and much of the economy's recent strength can be traced to productivity improvements.
Similar(47)
It was a flurry of loans in 2009 and 2010, as Beijing sought to buffer China from the post-Lehman Brothers financial crisis, that helped set off inflation.
Several other voting members of the Fed's monetary policy committee — and some prominent members of Congress — oppose aggressive action, because they worry it will set off inflation.
Providing additional bailouts without such budget pressure would only encourage further profligacy, the Germans contend, and it could set off inflation.
In its twice-yearly Economic Outlook, the organization said nations now use energy more efficiently than in the 1970's, when surging oil prices set off inflation.
In his remarks, Mr. Kroszner warned against a series of consecutive rate cuts, suggesting such a move could set off inflation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com