I thought today I might share some quick perspectives on the economy, and then dig in on a topic generating much interest: the question of inflation. These thoughts are my own and not those of the Federal Open Market Committee or the Federal Reserve System. That frees me up to be as direct as I want, and I’m looking forward to hearing your questions and comments. My background is business, not research, so I hope you find my views and experience relevant.1 I’d like to start with the big picture before turning to the latest data. Economic activity fell off a cliff in March and April as we shut down, increased rapidly ... (full story)