There are a few economists (very few) and a small percentage of voters (very small) worldwide who are convinced that central banks inflate their domestic currencies as a deliberate policy. We skeptics monitor the various money supply statistics and find that there is rarely a period longer than a few months in which any nation’s money supply is either stable or falling. We also monitor various price index statistics and find the same thing, with the exception of Japan. Japan did have a few years — 1995 and 2001—3 — in which its official price level fell for over a … Continue reading How the Fed Gets Away With It