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Too much money chasing too few goods. The Fed can only control the too much money side of the equation. In the case of inflation do to a supply side shock to
by JackFr 4y ago
Too much money chasing too few goods.
The Fed can only control the too much money side of the equation. In the case of inflation do to a supply side shock to an inelastic good, that is necessities with few or no substitutes, there is nothing the Fed can do.