He may be less of an inflation hawk than Bernanke as well, but probably only marginally so.
One especially misleading statement made by the author is that “many utility rates have risen much faster than inflation.”
Additionally, if inflation happened, it was so early on that we can only ever see indirect evidence for it.
They do not pursue monetary policy with sufficient force to ensure expenditure growth even at risk of inflation.
He is coauthor with Ben Bernanke et al. of inflation Targeting: Lessons from the International Experience .
The third element in our program is a renewed attack on inflation.
So far as this went, it produced a debtor class and prepared the way for inflation.
The effect on foreign trade of price-regulation and profiteer-hunting as cures for inflation is even worse.
inflation was not to be desired by the citizen who had in hand the funds to pay his debts.
During the period of inflation, therefore, as much as possible should be raised by taxation.
mid-14c., "swelling caused by gathering of 'wind' in the body; flatulence;" figuratively, "outbursts of pride," from Latin inflationem (nominative inflatio) "a puffing up; flatulence," noun of action from past participle stem of inflare "blow into, puff up," from in- "into" (see in- (2)) + flare "to blow" (see blow (v.1)). Monetary sense of "enlargement of prices" (originally by an increase in the amount of money in circulation) first recorded 1838 in American English.
inflation in·fla·tion (ĭn-flā'shən)
Distention with a fluid or gas.
The act of distending an organ or body part with a fluid or gas.
A general increase in prices.