World Economy

The U.S. Federal Reserve, the Bank of England and the European Central Bank all have been disappointed to varying degrees about how little inflation has picked up, or indeed how it has spent too much time going the opposite way.

The Bank of Japan, which has been trying to ward off deflation going on two decades, has now been hit with a counterproductive surge in the yen after a contested decision last month to adopt a tiny negative interest rate.

Even in China, where it is difficult to fathom the sheer magnitude of fiscal and monetary stimulus Beijing has piled on since the financial crisis, consumer price inflation is remarkably tame and likely to remain so.

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Buffet’s Calculus or Algebra

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If calculus or algebra were required to be a great investor, I’d have to go back to delivering newspapers.

By Warren Buffet

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