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Understanding Deflation

Are we sliding towards our own "lost decade"? James Bullard/St. Louis Fed hide caption

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James Bullard/St. Louis Fed

In a paper released late last week, St. Louis Fed chief James Bullard warned that the US may be headed for "a Japanese-style, deflationary outcome within the next several years."

Today on All Things Considered, Michelle Norris asks Bullard what specifically has him so worried. And in case you're confused about what could be so bad about falling prices, our own Adam Davidson breaks it down in a patented Planet Money explainer.