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Kenneth Murphy

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Kenneth Murphy's latest book is Unquiet Vietnam: A Journey to the Vanishing World of Indochina (Gibson Square Books, London). He is currently a senior fellow of Smolny Collegium, Saint Petersburg University, Russia.

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  5. op_cochrane1_ Mark WilsonGetty Images_fed reserve Mark WilsonGetty Images
    Subscriber Exclusive

    Inflation in the Shadow of Debt

    John H. Cochrane

    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.

     questions whether the US Federal Reserve could carry out a successful monetary stabilization if needed.
    10

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