Heterodox
No, inflation is not getting harder to "understand." Central banks are just using models that don't fit the case, for example, confusing special case model with general models, or using models that are mis-specified. The message is to review the assumptions, including methodological ones, and revise them as appropriate. Then compare the model with the real world. What's so difficult to understand about that? This is what scientists do. Difficult, you say? That's what you are...
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