- More recently, the debate on inflation has pitted #TeamTransitory and its detractors in a mud-slinging and, often emotionally charged, spat.
- It is unreasonable to term all versions of the world in which inflation is not making a new high on a monthly basis as transitory.
- The question we need to ask is whether there are conditions under which policy tightening - both fiscal and monetary - to rein in demand are optimal or desirable, in an economic sense, even if it means, presumably, unemployment going up.
For further details see:
The Latest Front In The Macro Wars