Ramesh Ponnuru is paranoid about Republican paranoia:
Republican Inflation Paranoia Is Political Suicide, by Ramesh Ponnuru: In the years since the financial crisis, Republican politicians have increasingly embraced a “hard money” critique of the Federal Reserve.
They’ve warned that its policies are too loose and dangerously inflationary, even as inflation has stayed well below historical levels. Now some conservatives are arguing that criticizing loose money should be a more prominent part of their case to voters. It’s a winning issue, they say, and Republicans should make the most of it.
They’re wrong on both counts. ...
Republicans do need to rethink their approach to economics. Intensifying their already excessive focus on inflation isn’t the way to do it.