Seventy-one-year-old Federal Reserve Board Chair Janet Yellen, a Professor of Economics at Harvard and Berkeley for four decades before her appointment to lead the Fed in 2014, admitted at a press conference recently that the persistently low rate of inflation was a mystery. Perhaps then it should be no surprise that inflation’s mysterious behavior is behind the unexpectedly good financial news of 2017.
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Elliot H. Kallen
Inflation Mystery
Seventy-one-year-old Federal Reserve Board Chair Janet Yellen, a Professor of Economics at Harvard and Berkeley for four decades before her appointment to lead the Fed in 2014, admitted at a press conference recently that the persistently low rate of inflation was a mystery. Perhaps then it should be no surprise that inflation’s mysterious behavior is behind the unexpectedly good financial news of 2017.
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