Monetary inflation

Argentina may be facing some serious financial problems. One may be an inflation rate as high as 25; the Argentine government claims the number’s much lower, under 10 percent. And it’s enlisted the world’s most famous hamburger to help make its case.

We’ve been asking our listeners for ideas on how to fix the economy — many have suggested increasing inflation. Tyler Cowen, a professor of economics at George Mason University and co-author of the economics blog Marginal Revolution, joins us.

In May, China’s inflation rose to its highest level in nearly three years, up 5.5 percent from the same month last year. BBC China correspondent Martin Patience reports on how high inflation and extremely high food prices are affecting the country.

Louise Story, finance reporter for the New York Times, joins The Takeaway to help parse the latest economic data. The minimal change in inflation is a good sign, which will allow the Fed to keep on its current monetary strategy.