Alan Greenspan is probably not irrationally exuberant with his CPI view.
- "The tendency toward inflation remains, unfortunately, well above the average of about 2% over the past two decades"
- some inflationary forces he says are likely to be transitory but there are other pressures to keep it above 2% longer-term
That is from a research note he has written released by Advisors Capital Management (conveyed via a Bloomberg piece, link here, may be gated)
