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← Raising interest rates cannot meaningfully cool inflation when…
17 connected korrents · 15 moments on record from 5 Sept 2010 to 18 Sept 2026. Nearly all of them are about inflation .
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interest rates
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public debt Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Raising interest rates cannot meaningfully cool inflation when structural fiscal deficits, not private-sector lending, are its main driver. Raising interest rates cannot meaningfully cool inflation when structural fiscal deficits, not private-sector lending, are its main driver. Last stated 2 years ago
8 Jan 2025
LA
Lyn Alden — holds since 2025-01-08 — tap for who they are
Same subject: Central bank purchases of government bonds are not bailouts and do not automatically cause inflation, since they only change the composition of the consolidated government's liabilities, not their total. — tap to centre the map on it Central bank purchases of government bonds are not bailouts and do not automatically cause inflation, since they only change the composition of the consolidated government's liabilities, not their total. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Judging by output kept near potential despite weak private demand, Japan's decades of high debt and low inflation reflect a qualified policy success, not failure. — tap to centre the map on it Judging by output kept near potential despite weak private demand, Japan's decades of high debt and low inflation reflect a qualified policy success, not failure. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: The Federal Reserve will need to raise interest rates rather than cut them to bring down inflation. — tap to centre the map on it The Federal Reserve will need to raise interest rates rather than cut them to bring down inflation. Last stated 4 months ago
15 May 2026
JB
Josh Barro — holds since 2026-05-15 — tap for who they are
Same subject: The Federal Reserve's average inflation targeting framework is a real commitment to hold inflation near a 2% average across the 2020s, so an overshoot now has to be offset by undershoots later. — tap to centre the map on it The Federal Reserve's average inflation targeting framework is a real commitment to hold inflation near a 2% average across the 2020s, so an overshoot now has to be offset by undershoots later. Last stated 4 years ago
14 Jan 2023
SS
Scott Sumner — holds since 2021-06-19 — tap for who they are
SS
Scott Sumner — no longer holds since 2023-01-14 — tap for who they are
Same subject: A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost. — tap to centre the map on it A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost. Last stated 6 months ago
1 Apr 2026
TP
Thuan Pham — holds since 2026-04-01 — tap for who they are
Same subject: An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation. — tap to centre the map on it An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation. Last stated 6 months ago
11 Mar 2026
LA
Lyn Alden — holds since 2026-03-11 — tap for who they are
Same subject: Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022. — tap to centre the map on it Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022. Last stated 4 years ago
25 Jul 2022
NS
Noah Smith — holds since 2022-07-25 — tap for who they are
Same subject: China's real exchange rate should appreciate through higher domestic inflation, not currency revaluation. — tap to centre the map on it China's real exchange rate should appreciate through higher domestic inflation, not currency revaluation. Last stated 2 months ago
1 Aug 2026
AB
Andrew Batson — holds since 2026-08-01 — tap for who they are
Same subject: A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. — tap to centre the map on it A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. — tap to centre the map on it Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them. Last stated 16 years ago
6 Sept 2010
SS
Scott Sumner — holds since 2010-09-05 — tap for who they are
SS
Scott Sumner — no longer holds since 2010-09-06 — tap for who they are
Same subject: Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. — tap to centre the map on it Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. — tap to centre the map on it A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. Last stated a month ago
21 Aug 2026
RD
Ray Dalio — holds since 2026-08-21 — tap for who they are
Same subject: Assessing whether government debt is sustainable is as much an art as a science. — tap to centre the map on it Assessing whether government debt is sustainable is as much an art as a science. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: During post-2008 fiscal consolidation, the costs of high public debt were overestimated and fiscal multipliers were underestimated, understating the output costs of austerity. — tap to centre the map on it During post-2008 fiscal consolidation, the costs of high public debt were overestimated and fiscal multipliers were underestimated, understating the output costs of austerity. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A broken criminal justice institution survives precisely because it serves the people who run it. — tap to centre the map on it A broken criminal justice institution survives precisely because it serves the people who run it. Last stated 3 weeks ago
1 Sept 2026
RB
Radley Balko — holds since 2026-09-01 — tap for who they are
Same subject: A competent, empowered civil service that performs crucial government functions with in-house expertise is good. — tap to centre the map on it A competent, empowered civil service that performs crucial government functions with in-house expertise is good. Last stated 3 days ago
18 Sept 2026
NS
Noah Smith — holds since 2026-09-18 — tap for who they are
Same subject: A conspiracy theory can be used as a pretext to dismantle government programs and target researchers and citizens. — tap to centre the map on it A conspiracy theory can be used as a pretext to dismantle government programs and target researchers and citizens. Last stated 2 weeks ago
4 Sept 2026
AA
Anne Applebaum — holds since 2026-09-04 — tap for who they are
At the centre
Raising interest rates cannot meaningfully cool inflation when structural fiscal deficits, not private-sector lending, are its main driver.
Holds Read this korrent →
Central bank purchases of government bonds are not bailouts and do not automatically cause inflation, since they only change the composition of the consolidated government's liabilities, not their total.
Holds
Judging by output kept near potential despite weak private demand, Japan's decades of high debt and low inflation reflect a qualified policy success, not failure.
Holds
The Federal Reserve will need to raise interest rates rather than cut them to bring down inflation.
Holds
The Federal Reserve's average inflation targeting framework is a real commitment to hold inflation near a 2% average across the 2020s, so an overshoot now has to be offset by undershoots later.
No longer holds
A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost.
Holds
An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation.
Holds
Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022.
Holds
China's real exchange rate should appreciate through higher domestic inflation, not currency revaluation.
Holds
A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate.
Holds
Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them.
No longer holds
Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government.
Holds
A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement.
Holds
Assessing whether government debt is sustainable is as much an art as a science.
Holds
During post-2008 fiscal consolidation, the costs of high public debt were overestimated and fiscal multipliers were underestimated, understating the output costs of austerity.
Holds
A broken criminal justice institution survives precisely because it serves the people who run it.
Holds
A competent, empowered civil service that performs crucial government functions with in-house expertise is good.
Holds
A conspiracy theory can be used as a pretext to dismantle government programs and target researchers and citizens.
Holds