If and when this inflation proves to not be “transitory”, but rather a long-lasting consequence of large amounts of money being created at the same time production in many industries was slowed, halted, or redirected by government fiat, it will be far too late for any sort of NGDP targeting.
Matthew Tanous
Matthew Tanous is a professional software developer with an autodidactic interest in economics, history, philosophy, and science. He is a main contributor for the blog Disinthrallment.