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opinion | Jennifer Graham

The deflation of everything

IN CAMBRIDGE last week, Federal Reserve Chairman Ben Bernanke bemoaned high unemployment and low inflation, while promising that the short-term interest rate will remain, in the near term, near zero. This is an outrage to ordinary Americans, who have come to believe that a quarter of a percent is too much to pay for anything.

To heck with near zero. We want fully free, and that, not the housing crisis, is what’s continuing to hobble the economy.

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