The Deflation Bogeyman
Central banks throughout the developed world have been overwhelmed by the fear of deflation. They shouldn’t be: Across the developed world, financing conditions are extremely favorable; the broadest price indices are increasing steadily; GDP continues to grow; and the labor market is improving.
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BRUSSELS – Central banks throughout the developed world have been overwhelmed by the fear of deflation. They shouldn’t be: The fear is unfounded, and the obsession with it is damaging.