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Tech innovators have turbo-charged the drift down in inflation – policymakers ignore such forces at their peril
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Graham Watson
May 24, 2019 4:38 AM
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Mohammed El-Erian argues that the tech giants are driving a paradigm shift in policymaking, suggesting that such is their ability to persistently drive down prices that this present policymakers with new problems.
However, he also warns that this might not be a permanent effect - and that tight labour markets and declining levels of competition in certain markets might yet see inflation return.