The inevitable recession is forthcoming

Between World War II and 2020, inflation rose to 6% or more seven times. Each time, recession followed — six times it hit within three months of the peak inflation rate.

  • By James Gwartney and David Macpherson | Guest Columnists
  • | 5:00 a.m. May 26, 2022
  • Opinion
  • Share

Even though President Joe Biden and his spokespeople continue to blame inflation on Vladimir Putin, as we have explained previously, the primary cause of inflation is always rapid increases in the supply of money. This is Economics 101.

 

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