11-11-2021, 05:26 AM
History repeats itself, it is the beginning of 1960.
<!-- SC_OFF --><div class="md"><p>In 1964, inflation measured a little more than 1 percent per year. It had been in this vicinity over the preceding six years. Inflation began ratcheting upward in the mid-1960s and reached more than 14 percent in 1980. </p> <p>While economists debate the relative importance of the factors that motivated and perpetuated inflation for more than a decade, there is little debate about its source. </p> <p>The origins of the Great Inflation were policies that allowed for excessive growth in the supply of money—Federal Reserve policies. Sound familiar? </p> <p>Among other things, the act declared it a responsibility of the federal government “to promote maximum employment, production, and purchasing power” and provided for greater coordination between fiscal and monetary policies. </p> <p>This act is the seminal basis for the Federal Reserve’s current dual mandate to “maintain long-run growth of the monetary and credit aggregates…so as to promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates” </p> <p>via Federal Reserve History</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/asymmetricfinance"> /u/asymmetricfinance </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/qr0adi/history_repeats_itself_it_is_the_beginning_of_1960/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/qr0adi/history_repeats_itself_it_is_the_beginning_of_1960/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>In 1964, inflation measured a little more than 1 percent per year. It had been in this vicinity over the preceding six years. Inflation began ratcheting upward in the mid-1960s and reached more than 14 percent in 1980. </p> <p>While economists debate the relative importance of the factors that motivated and perpetuated inflation for more than a decade, there is little debate about its source. </p> <p>The origins of the Great Inflation were policies that allowed for excessive growth in the supply of money—Federal Reserve policies. Sound familiar? </p> <p>Among other things, the act declared it a responsibility of the federal government “to promote maximum employment, production, and purchasing power” and provided for greater coordination between fiscal and monetary policies. </p> <p>This act is the seminal basis for the Federal Reserve’s current dual mandate to “maintain long-run growth of the monetary and credit aggregates…so as to promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates” </p> <p>via Federal Reserve History</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/asymmetricfinance"> /u/asymmetricfinance </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/qr0adi/history_repeats_itself_it_is_the_beginning_of_1960/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/qr0adi/history_repeats_itself_it_is_the_beginning_of_1960/">[comments]</a></span>Kind Regards R