Inflation isn’t always and necessarily a bad thing. It’s one of many variables in the economy, and its presence helps some groups of people and harms others. But that kind of nuance is getting lost in the present debate.
Why it matters: There are two well-defined inflation camps at this point. Both of them take for granted that inflation is, broadly speaking, a bad thing. But that’s never true for everyone, and always depends on how you define it.
Where it stands: The messaging from the Fed and…

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