A Faux-Central Bank relies on Inflation Expectations – YouTube

Real central banks manage money supply. Fake central banks manage inflation expectations. Central bankers cannot define, identify, quantify or distribute money. Thus, they are reduced to observing a monetary output: inflation expectations.

via www.youtube.com

Sooooo don’t worry about it after all. We’re in a deflationary environment. Jeff seems more credible to me, but what do I know.