"Economist Stephen Roach, who was starting his career at the Fed in the 1970s, has said then-chairman Arthur Burns fought inflation by removing from the CPI’s basket of goods items whose prices were rising While always conveniently finding a nonmonetary story to explain the price increase. By the time he was done with it, he had eliminated about 65% of the goods in the CPI, including food and oil and energy-related products." From "The Fiat Standard" by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak #Bitcoin #BTC