Central Bank Digital Currencies Could Bring Hyperinflation

An eagle tops the U.S. Federal Reserve building's facade in Washington on July 31, 2013. Jonathan Ernst/Reuters

Commentary

There are many excuses often used to explain inflation. However, the fact is that there’s no such thing as “cost-push inflation” or “commodity inflation.” Inflation isn’t an increase in prices; it’s the destruction of the purchasing power of the currency.