South central kansas | IN555 - 4/19/2022 20:20
Oil crisis was 1973, gold standard was 1971 those two events played a major roll into the 1974 spike on inflation. Covid has done basically the same thing
The double digit episode of inflation in 1974-75 was primarily the result of the oil price shock as well as the food price shock.
https://www.nber.org/system/files/chapters/c11462/c11462.pdf
The ‘70's inflation was different...so far.
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What if the fed doesn't get inflation under control
