Eric Maugendre<p>During 1992–2020, the USA had low and stable <a href="https://mas.to/tags/inflation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>inflation</span></a>.</p><p>Despite massive federal deficit spending, the Fed met its 2% inflation target (or missed below it) for most of this era. </p><p>How come? There were no serious shortage of resources. (Thanks to: no cold war, globalization, bad working conditions, stable commodity supply, increase of greenhouse effect.)</p><p><a href="https://mas.to/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>money</span></a> <a href="https://mas.to/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>deficit</span></a> <a href="https://mas.to/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>debt</span></a> <a href="https://mas.to/tags/interestRates" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>interestRates</span></a> <a href="https://mas.to/tags/yields" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>yields</span></a> <a href="https://mas.to/tags/price" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>price</span></a> <a href="https://mas.to/tags/pricing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>pricing</span></a> <a href="https://mas.to/tags/prices" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>prices</span></a> <a href="https://mas.to/tags/value" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>value</span></a> <a href="https://mas.to/tags/markup" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>markup</span></a> <a href="https://mas.to/tags/economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>economy</span></a> <a href="https://mas.to/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>economics</span></a> <a href="https://mas.to/tags/economics101" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>economics101</span></a> <a href="https://mas.to/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MMT</span></a> <a href="https://mas.to/tags/CPI" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CPI</span></a> <a href="https://mas.to/tags/commodities" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>commodities</span></a></p>