30 Apr Question: Inflation and the Quantity Theory of Money- Ask FRED Let’s look at the inflation rate and the int…
Inflation and the Quantity Theory of Money- Ask FRED Let’s look at the inflation rate and the interest rate on 30-year mortgages in the United States. The accompanying diagram plots 30-vear mortgage rates with the percent change in the CPI, i.e.7.5 the annual rate of inflation 17.5 15.0 12.5 Lu 30-Year Fixed Rate Mortgage Average in 1981 16.64 the United States Vintage: 2018-02-01: Consumer Price Index for All Urban 1981 10.37831 Consumers: All Items Vintage: 2018 01-12: b0 5.0 2.5 0.0 2.5 1980 1990 2000 2010 1950 Sources: Freddie Mac, U.S. Bureau of Labor Statistics
b. In 1981 what was the average interest rate on a 30-year mortgage? 13.74 What was the inflation rate in 1981? Over the next 30 years, what was very approximately the inflation rate?
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