Are we about to move into a new era of unexpectedly high inflation, rather than the below-target inflation we are used to? Many dismiss this view. But the boy who cried wolf was right the last time. A book just out is crying wolf insistently. Notably, it states that, as a result of today’s fiscal and monetary largesse, “as in the aftermath of many wars, there will be a surge in inflation, quite likely more than 5 per cent, or even on the order of 10 per cent in 2021”. That would change everything.
我们是否会进入一个这样的时代：通胀出人意料地高，而不是如我们熟悉的那样低于目标？许多人认为不必担心。但上次那个喊狼来了的男孩是对的。刚出版的一本书在固执地喊着狼来了。值得注意的是，该书认为，由于目前的财政和货币宽松政策，“就像许多次战争后的情况一样，通胀将大幅上升，在2021年很可能超过5%，甚至达到10%左右”。这将改变一切。
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