Too Late to Tighten

07/01/2004 Mises Wire Jeffrey A. Tucker

Greenspan is still blamed for fueling the .com bubble, and now it seems that he is rightly being blamed for the rise in price inflation. This morning’s NYT quotes economists from investment houses pointing the finger straight at the Fed. For example, there’s Alan W. Kral, portfolio manager at Trevor Stewart Burton & Jacobsen in New York. “We believe that inflation has returned...and the cause of it has been an overexpansive monetary policy for almost 10 years.”

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