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Deflation Demystified

Are you mystified by the Federal Reserve’s decision to drop interest rates – on bank transfers of money, not on auto or home loans--nearly to zero?  Here is Martin Wolf’s column from the Financial Times and the 2002 speech on deflation by Federal Reserve chairman Ben Bernanke. Read these and you’ll be ready to put a weight around your ankle and jump headlong into your local river or bay.

--John B. Judis