Janet Yellen's preference for the word "noise" to describe recent inflation in the US will probably find its way into history books. Printing money beyond productive economic capacity leads to inflation; unless, of course, central bankers these days don't believe in natural laws. In fact, she needs to look no further than real wage growth, which is negative, to realise that she is wrong in her conclusion that printing money helps the common man. With emergent risks of a global stagflationary blowout, it is time to start drawing lots as to which central bank boss will be the first to reach central jail.
Rohan Soares Mumbai
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