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  • Time Magazine International Edition

    TIME TO ACT ON INFLATION

    Mar 19, 2022 3 minutes
    BY LAWRENCE H. SUMMERS
    The View is reported by Leslie Dickstein, Alejandro de la Garza, Nik Popli, Simmone Shah, and Julia Zorthian

    uring the 1960s and ’70s, it took a dozen years for a toxic cocktail of excessive fiscal stimulus, misguided monetary policy focused on symptoms rather than causes, and bad luck on the supply side to generate stagflation (a mix of high inflation and a stagnant economy) to develop. Stagflation and political dysfunction corroded trust in government and brought down the presidencies of Ford

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