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To Mark the Re-appointment of the RBNZ Governor, let's repeat his 2021 econ lecture on inflation

As we noted several months ago, the world was treated to words of economic wisdom from our Kiwi monetary authorities in 2021, as reported by Bloomberg News in the United States:


"Inflation is a very different beast today than it was in the 1970s .. The fear of the 70s, the 80s, stagflation, it is such a different world .... Central banks today are ... more confident that we have stable inflation expectations, we have a much more flexible set of pricing, we have less of that generalized inflation," said the RBNZ Governor, Adrian Orr.


Sources:

https://www.bloomberg.com/news/articles/2021-05-27/inflation-today-is-not-like-the-1970s-rbnz-governor-orr-says