The European Central Bank explains it all (hat tip, Anil Kashyap):
The ECB link, complete with other video formats, is here.
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Policy Hub: Macroblog provides concise commentary and analysis on economic topics including monetary policy, macroeconomic developments, inflation, labor economics, and financial issues for a broad audience.
Authors for Policy Hub: Macroblog are Atlanta Fed economists and researchers.
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Taming The Inflation Monster