From an Austrian economics perspective, inflation is always a monetary phenomenon and oil price changes are irrelevant to inflation causation, but oil prices matter to voters and consumer purchasing power, making oil important politically even if not monetarily.
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Speaker
Lobo TijerinaEvidence Quote
“inflation is a monetary phenomenon and the price of oil is irrelevant... Inflation is always and everywhere a monetary phenomena. That said... the gas pump, which voters pay so much attention to, obviously this is very important [37:28]”
Created: 8/11/2026, 4:53:39 AM
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