To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
High levels of homeownership have been shown to foster greater involvement in school and civic organizations, higher graduation rates, and greater neighborhood stability.
It must be awfully frustrating to get a small raise at work and then have it all eaten by a higher cost of commuting.
Only a strong economy can create higher asset values and sustainably good returns for savers.
If Australia finds it has a strong Australian dollar, and it has higher unemployment, then it would have to respond, and that would either be by increasing domestic demand or by weakening its own currency.
Some influential voices of the time argued that by accepting higher inflation, policy-makers could bring about a permanently lower rate of unemployment.
There is a deficit; I'd like to see it lowered. But it's up to Congress to decide whether that should be done by higher taxes, lower spending or some combination.
Under a paper-money system, a determined government can always generate higher spending and hence positive inflation,