that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth--but it … will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government … that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth--but it …

of monetary policy, for example, and some central banks also use inflation forecasts as intermediate targets. For the …