whatever, the trend is upwards and it many ways it cheapens money
as to where the quote came from, the post above
"However, it would be odd to be using money as a standard measure of value for goods and services if its value was going to decline by 5% or 10% every year."
"http://www.house.gov/jec/fed/fed/goals.htm
In this April 1997 study, it is argued that a price stability (or zero inflation) target should be introduced. Historical and international evidence in support of such a policy is presented in this document."
"Thomas C. Melzer, "To Conclude: Keep Inflation Low and, in Principle, Eliminate It"
In these November 1997 article, Thomas C. Melzer, past President of the St. Louis Fed, argues that maintaining price stability is an important goal of the Fed. He suggests that there is low inflation will result in a higher rate of economic growth. In this speech, Melzer argues that a credible Fed policy of price stability (or zero inflation) may be achieved at no substantial economic cost and provides large long-run benefits. (To view this document, the Adobe acrobat viewer plugin is required. You may download this viewer by clicking here.)"
"http://www.stls.frb.org/news/speeches/1998/10_22_98.html
In these October 22, 1998 remarks, William Poole, the President of the St. Louis Fed, provides a series of economic arguments in favor of a zero inflation rate target.
Interview with W. Lee Hoskins
In this June 1991 interview which appeared in The Region (a publication of the Minneapolis Fed), W. Lee Hoskins, the President of the Cleveland Fed, discusses his arguments for a zero inflation target. Hoskins argues that inflation distorts relative prices and results in economic inefficiency."
as to where the quote came from, the post above
"However, it would be odd to be using money as a standard measure of value for goods and services if its value was going to decline by 5% or 10% every year."
"http://www.house.gov/jec/fed/fed/goals.htm
In this April 1997 study, it is argued that a price stability (or zero inflation) target should be introduced. Historical and international evidence in support of such a policy is presented in this document."
"Thomas C. Melzer, "To Conclude: Keep Inflation Low and, in Principle, Eliminate It"
In these November 1997 article, Thomas C. Melzer, past President of the St. Louis Fed, argues that maintaining price stability is an important goal of the Fed. He suggests that there is low inflation will result in a higher rate of economic growth. In this speech, Melzer argues that a credible Fed policy of price stability (or zero inflation) may be achieved at no substantial economic cost and provides large long-run benefits. (To view this document, the Adobe acrobat viewer plugin is required. You may download this viewer by clicking here.)"
"http://www.stls.frb.org/news/speeches/1998/10_22_98.html
In these October 22, 1998 remarks, William Poole, the President of the St. Louis Fed, provides a series of economic arguments in favor of a zero inflation rate target.
Interview with W. Lee Hoskins
In this June 1991 interview which appeared in The Region (a publication of the Minneapolis Fed), W. Lee Hoskins, the President of the Cleveland Fed, discusses his arguments for a zero inflation target. Hoskins argues that inflation distorts relative prices and results in economic inefficiency."
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