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The Fed is on the hot seat as the Great Inflation looms We’re sorry, this service is currently unavailable. Please try again later. Dismiss By Ambrose Evans-Pritchard Normal text size Advertisement We know what caused the Great Inflation of the Johnson-Nixon years: the US stoked a fiscal boom to pay for both the Vietnam War and the War on Poverty at the same time. America continued to ramp up “guns and butter” spending after the output gap had been closed and the economy was hitting capacity constraints. Rather than raising taxes to pay for welfare expansion, it relied on loose money fr...

The Federal Reserve's New Framework And Outcome-Based Forward Guidance, Vice Chair Richard H. Clarida, At "SOMC: The Federal Reserve’s New Policy Framework" A Forum Sponsored By The Manhattan Institute's Shadow Open Market Committee, New York, New York (Via Webcast) The Federal Reserve's New Framework And Outcome-Based Forward Guidance, Vice Chair Richard H. Clarida, At "SOMC: The Federal Reserve’s New Policy Framework" A Forum Sponsored By The Manhattan Institute's Shadow Open Market Committee, New York, New York (Via Webcast) Date 14/04/2021 On August 27, the Federal Open Mar...