The Leftovers, scapegoats, and inflation

The World’s Central Banker by DeLong

AV Club reviews the The Leftovers: “Pilot”

The Fed needs to target 4 percent inflation or else we'll get the scapegoating of foreigners. If 2 percent of the population disappeared, there'd be an economic boom as labor supply would meet demand and the Fed would have to raise rates.

Dean Baker had the best post on inflation and wage adjustment.