Washington
THE United States has a problem: not enough inflation. That notion is a bit of a head-scratcher. Most people don't like inflation. They would prefer that a dollar tomorrow be worth the same as a dollar today.
But a recent drop in inflation may be a sign of fresh economic weakness and is perplexing to Federal Reserve officials who are wrapping up the central bank's stimulus campaign.
The Fed thinks modest inflation has important economic benefits, and it has aimed since 2012 to keep prices rising at an annual pace of 2 per cent. The problem is that the Fed is on track to fail for the sixth straight year. Inflation has been stubbornly sluggish.
A little inflation can brighten the economic...
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