John H. Cochrane for PS On Point: Inflation in the Shadow of Debt

John H. Cochrane questions whether the US Federal Reserve could carry out a successful monetary stabilization if needed. [View this message in a web browser]( [PS On Point]( SEPTEMBER 17, 2021 History has shown that it is much easier to stay ahead of inflation than it is to play catch-up. By ignoring this basic truth, US policymakers are both missing a big opportunity and inviting economic disaster, writes the Hoover Institution's John H. Cochrane. [Read more](. On Point [Inflation in the Shadow of Debt]( [Inflation in the Shadow of Debt]( By John H. Cochrane Generally speaking, inflation can be stabilized with little recession if people believe the necessary policy tightening will be seen through, rather than abandoned at the first signs of pain. Unfortunately, US economic authorities have done little to inspire such confidence. [Read more]( [PS Events: Building the Green Consensus]( The Big Picture [The Coming Food Fight]( [The Coming Food Fight]( Featuring Agnes Kalibata, Gloria Abraham Peralta, José Antonio Ocampo, and more The COVID-19 pandemic has caused hunger to spike, highlighting the need for radical reforms of the global food system to ensure its long-term resilience. But many fear that the United Nations Food Systems Summit on September 23 will entrench the current inequitable status quo instead of delivering real change. [Read more]( Opinion Has It [Economic Crisis in the Anthropocene]( [Economic Crisis in the Anthropocene]( with [Adam Tooze]( Professor of History at Columbia University The COVID-19 pandemic triggered the swiftest and most comprehensive contraction of global economic activity ever. With crises set to proliferate – not least because of climate change – the successes and failures of the pandemic response should serve as lessons for governments everywhere. [Listen now]( Opinion Has It is also available on [Acast]( [Apple]( [Google]( and [Spotify](. Previously in On Point [The World 9/11 Made]( [The World 9/11 Made]( By Richard Haass In hindsight, we can now see that 9/11 was a harbinger of what was to come: not the globalization of terrorism but the terrors of globalization. The attacks conveyed the message that distance and borders count for little in a global age. [Read more]( [The latest on sustainability for less than $9 a month.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.