A trader works on the floor at the New York Stock Exchange (REUTERS/Brendan McDermid).

Opinion

Money Illusion, the Chained CPI, and the Benefits of Inflation

April 17, 2013, Isabel V. Sawhill

Isabel Sawhill discusses recent proposals to change the inflation index for Social Security to the chained CPI and explains why the fear of this creating inflation is misguided, arguing that inflation would not necessarily be bad for the system.