Skepticism about the Direction of Inflation: Causes, Costs, and Cures
Bumper stickers sometimes convey important ideas. In the 1980s, a familiar one on America’s highways read “VISUALIZE WORLD PEACE.” The underlying idea was that visualizing helps people behave in ways that tend to bring the vision to reality.
The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.