[PEN-L:1836] Prayin' for a warm Winter

[Carl Remick]

>An oil shock would not be considered inflationary.  Back in 73 the Fed 
>wisely
>refrained from raising rates, but chose to accommodate the oil shock.
>
>--
>Michael Perelman
>Economics Department
>California State University
>Chico, CA 95929

Huh?  I recall the '73 oil shock as the key trigger of the '70s inflation.  
Is this just a trick of memory?

Carl
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