Immaculate Disinflation: It’s a Miracle…or is it?

The financial media is abuzz (again) with that newly coined term: immaculate disinflation. The word, created by economists, is said to mark a decrease in the rate of inflation without a jump in unemployment. Historically, achieving a significant reduction in inflation was cheered by everyone. But, this time, as we hover in a possible immaculate disinflationary environment — where we stand today, is, well, completely unclear.