I agree with much of what Teixeira writes, including that there is much general concern about price levels (not just any continuing inflation). But then he seems to suggest that Biden needs to get general price levels to drop: "The only thing that might [make a dent in public perception] is focusing intensely on voters’ chief economic co…
I agree with much of what Teixeira writes, including that there is much general concern about price levels (not just any continuing inflation). But then he seems to suggest that Biden needs to get general price levels to drop: "The only thing that might [make a dent in public perception] is focusing intensely on voters’ chief economic concern," and that concern is the current general price level. In other words, the Biden administration (and I guess the Fed) should have a laser focus on achieving general price level decline, otherwise known as deflation. But the only way to get deflation is to engineer a severe recession/depression. That is NOT going to make people happy or re-elect Biden.
I agree with much of what Teixeira writes, including that there is much general concern about price levels (not just any continuing inflation). But then he seems to suggest that Biden needs to get general price levels to drop: "The only thing that might [make a dent in public perception] is focusing intensely on voters’ chief economic concern," and that concern is the current general price level. In other words, the Biden administration (and I guess the Fed) should have a laser focus on achieving general price level decline, otherwise known as deflation. But the only way to get deflation is to engineer a severe recession/depression. That is NOT going to make people happy or re-elect Biden.