Stephen Williamson Makes His Play for the Second Stupidest Man AliveTM/ Crown

Narayana Kocherlakota of the Pain Caucus, President of the Minneapolis Fed, wrote that the Federal Reserve must raise interest rates before too long a time has passed or else its low interest rate policy will generate deflation:

Narayana Kocherlakota Speech: But over the long run, money is, as we economists like to say, neutral.... [I:]f the FOMC maintains the fed funds rate at its current level of 0-25 basis points for too long, both anticipated and actual inflation have to become...