What this exercise taught us during the 1970s and 1980s is that inflation creates very serious problems for the economy. This is not a very good way of dealing with a debt problem.
On March 5th, 2009. See this statement in context.
On March 5th, 2009. See this statement in context.
Deputy Governor, Bank of Canada
What this exercise taught us during the 1970s and 1980s is that inflation creates very serious problems for the economy. This is not a very good way of dealing with a debt problem.
See context to find out what was said next.