Second Stimulus - People saying Britain doesn't have demand-driven inflation are kidding themselves: 1.Pandemic+energy handouts totalled 23.1% of GDP, a fiscal stimulus second only to the US 2.Interest rates have disregarded the Taylor principle 3.NGDP grew 9.7% in 2022 4.Unemployment rate 3.8%

3:16am PDT - June 22nd, 2023

People saying Britain doesn't have demand-driven inflation are kidding themselves: 1.Pandemic+energy handouts totalled 23.1% of GDP, a fiscal stimulus second only to the US 2.Interest rates have disregarded the Taylor principle 3.NGDP grew 9.7% in 2022 4.Unemployment rate 3.8%

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Henry Curr (@currhenry)