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Fed chairman Arthur Burns
[[Bruce Bartlett]] wrote:
[[Bruce Bartlett]] wrote:
*Inflation is fundamentally a monetary phenomenon. The inflation of the 1970s came about primarily because Fed chairman Arthur Burns gunned the [[money supply]] to get [[Richard Nixon]] re-elected in 1972. He was followed by [[G. William Miller]], appointed by [[Jimmy Carter]]. Miller didn’t have a clue about [[monetary policy]] and only made the dismal inflation situation he inherited far worse. [http://www.nationalreview.com/nrof_bartlett/bartlett200406140846.asp]
*Inflation is fundamentally a monetary phenomenon. The inflation of the 1970s came about primarily because Fed chairman [[Arthur Burns]] gunned the [[money supply]] to get [[Richard Nixon]] re-elected in 1972. He was followed by [[G. William Miller]], appointed by [[Jimmy Carter]]. Miller didn’t have a clue about [[monetary policy]] and only made the dismal inflation situation he inherited far worse. [http://www.nationalreview.com/nrof_bartlett/bartlett200406140846.asp]
==Measures of inflation==
==Measures of inflation==