The Fed Has Made Inflation the Enemy, but Should We Fight Inflation at All Costs?

An attempt to answer a thorny question.

At a time when the planet is panicking over soaring prices when central banks are raising interest rates like never before in decades at the risk of causing a recession, it is useful to ask the question in the title of this article:

Why, then, do we need to fight inflation?

The first answer is that you have to do it ... because you have to do it. Central …