NY Times Columnist Puts Former Fed Governor’s Core Inflation Thesis To The Test Hot

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Many people are skeptical of the government’s core inflation measure because it leaves out the two factors that seem to affect our bank accounts the most, oil and food. But former Fed Governor Laurence Meyer wrote an op-ed last week arguing that core inflation is the right measure.

So columnist David Leonhardt plugged the numbers into a spreadsheet to see what history tells us, and the result is an interesting article that backs up Meyer’s argument.

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