IT'S A DEFLATIONARY EPOCH:

Does the world need to fear inflation again? The global supply of money has been rising at a rapid clip, with the broader measure increasing by more than 20% last year in the U.S. alone. With an economic recovery and boom likely to follow the distribution of vaccines, many people are worried that all this cash will lead to higher prices.

I have some reassuring news (albeit with caveats): It is not likely that the next major macroeconomic problem will be inflation.

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