McKnight's May 10, 2021
Janet Yellen insists inflation is not something we need to be terribly concerned about. Yet it has been on my mind quite a bit lately. Perhaps it should be on yours, as well.
In the interest of full disclosure, it should be noted that my understanding of the economy’s inner workings hardly compares with that of our current Treasury secretary. After all, she earned a Ph.D. in Economics from Yale. I took a couple of Econ classes as an undergraduate. So there’s that.
Still, while being super smart and having unmatched access to relevant data instills a certain advantage, it doesn’t preclude incorrect conclusions from being drawn. Just ask any meteorologist.
Nor am I the only person worried about the...