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Inflation Is Always and Everywhere a Monetary Phenomenon

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Inflation Is Always and Everywhere a Monetary Phenomenon
Federal Reserve Chair Jerome Powell speaks at a press conference in Washington on Jan. 29, 2020. Samuel Corum/Getty Images
James L. Doti
Updated:
Commentary

The fiscal response during the COVID-19 recession has been unprecedented. Passage of the CARES Act pumped more than $2 trillion into the economy. CARES Act II will likely keep the pump primed.

James L. Doti
James L. Doti
Author
Dr. James L. Doti is president emeritus and professor of economics at Chapman University. He earned his M.A. and Ph.D. degrees from the University of Chicago, where he was an Edward Hilman and National Science Foundation Fellow. He joined Chapman University in 1974 and in 1978, founded the University’s A. Gary Anderson Center for Economic Research.
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