Daniel Tarullo: Monetary policy without a working theory of inflation

[@libertysprings2244]

Easy: China's excellent factory workers working on the cheap, plus other low wage countries helped too. That's why we got overall low inflation for 30 years! China subsidizes exports so they can take control of world manufacturing. Similar to what Standard Oil did lowering prices to destroy competition. Oil price is the other big influence on inflation, affecting transportation and food prices. Fracking brought that under control. Thanks frackers!

[@لقطاتمنالأنميالقديم]

The Theory of Global Inflation