David Bahnsen offers his views on inflation and the Federal Reserve’s role in stopping it:
My agenda in pursuing a more long-term and informed understanding of inflation, government spending, and monetary policy is not to defend governmental actions but rather to more exhaustively and rigorously critique them. That is the fundamental point I would ask readers to understand: My views on monetary policy and excessive governmental spending are more critical than even those of the consensus inflation camp.
The following five contentions are intended to clarify my own perspective but also to offer nuance for those who desire a more holistic understanding of these economic issues. Inflation is a potent topic in both political and economic circles, and if all I cared about was the upcoming election cycles, I would pile on the current narrative for the obvious political benefits they provide a conservative Republican such as myself. But as a steward of capital managing close to $4 billion of client assets, and as an economist focused on the visible and invisible effects in both short- and long-term contexts (per Bastiat), I am writing with a different agenda on the subject.
Read the whole thing here.