Ladies and gentlemen, A good ten years ago, on June 14, 2013, economics professors who were formerly employed by the Deutsche Bundesbank founded the Stable Money Action Group. At that time, the inflation rate in the euro area and in Germany was around one and a half percent, measured as an annual average and according to the Harmonized Index of Consumer Prices. At first glance, one might think that monetary policy could have been more or less satisfied with that. The then political goal of a price increase rate of "below, but close to 2%" was not perfectly met. But the target deviation was not serious - no comparison ... (full story)