If inflation is transitory, one should call it as such. If it is persistent, then say it is persistent.

If inflation is transitory, one should call it as such. If it is persistent, then say it is persistent. Doing so in reverse —when inflation is transitory you focus on how sticky (and attack alternative views as challenging Fed independence), when inflation is persistent, you say it is transitory (and when you are wrong, preach that everyone else is wrong and need to be humble) — that’s just hypocritical. — via @AnnaEconomist

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