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Exactly -- slow and steady increases are fine (in inflation, taxes, etc.); it's risk which might strand capital assets which destroys and economy. Unfortunately, modern democracy (at least in the US) doesn't seem to do long-term sustained slow and steady anything; it's always wait wait wait then overcorrecting (or correcting more in the wrong direction). The Fed, which is quasi-independent, is one of the few organizations which seems to exert constant slight pressure, and that's complicated by the dual mandate.



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