inflation helps those with a lot of financial assets maintain the value of those assets and the rent extractions they represent. There's not really any evidence that 2% inflation is economically any better than 7%." Perhaps, for the economy as a whole. However, for individuals, we necessarily go through various stages of life. When we're young, we work and accumulate financial assets. When we're old, we retire and are expected to survive on what we have saved during our working lives. Inflation during our working years may not hurt us, if our wages keep up and progressive tax brackets are indexed, but in retirement inflation erodes the value of our savings and reduces our standard of living. This happens to the middle classes more so than to the very rich, who (besides being able to "afford" it) probably have expert financial advisors to find them the loopholes and advantages to enable them to "beat" inflation. The middle classes may be able to buy a few shares of BAC, but they don't get the preferential treatment that Warren Buffet gets for his BAC investment. So, I dispute the notion that low inflation disproportionately helps those with a lot of financial assets. They'll prosper under any conditions, and those with no savings get an indexed income from the government, but those in the middle are very much more harmed by 7% inflation than 2%, and more by 2% than 0%. Yes, I know Charles Goodhart quite well. Yes, he's one of the