Blankfein: Better for Fed to Err on Side of Inflation

The transcript discusses various economic risks, focusing on potential errors in programs and asset management. It highlights the impact of interest rates on markets, emphasizing the risks associated with low rates and credit. The discussion then shifts to inflation versus deflation, arguing that inflation is more manageable than deflation, with references to Japan's economic history. The speaker supports the Fed's current approach to managing these issues.

What historical reference is made regarding deflation, and what lessons can be learned?

Why is deflation considered a more serious issue than inflation?