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Why Inflation Happens, with John Cochrane
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Episode one of the three-part series "The Economy: Inflation, the Fed, and You."
Inflation in America is happening for the first time in forty years. Why have prices gone up and when might they come down? What role do monetary policy, the Federal Reserve, and legislators play? And what is the fiscal theory of inflation? Hoover Institution economist John H. Cochrane joins Liam Julian, director of Public Policy at the Sandra Day O'Connor Institute, for a discussion. The Economist magazine wrote that Cochrane's new book, The Fiscal Theory of the Price Level, "builds a theory of inflation as ambitious as that proposed by John Maynard Keynes’s The General Theory or Milton Friedman’s and Anna Schwartz’s A Monetary History." Cochrane is the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution and a research associate of the National Bureau of Economic Research.
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