Is everyone pretending to understand inflation (or just me)?

1026.337 - 1045.426 Mark Blyth

And then after that, for a long period, we had pretty low inflation and pretty high growth. So the story of the 70s was, that's what happened. Government bad. Market's kind of good. Government can't be trusted. Spend too much money. Federal Reserve good, independent. Keep them away from the politicians. Push interest rates up. Crush the economy. Sorry, unemployment. But don't worry.