Do Higher Interest Rates Really Cause Inflation?

In the comment section of a recent post, people reacted with shock to my claim that, holding the monetary base constant, higher interest rates are inflationary. I wonder if they thought it was some kind of weird monetarist claim. Actually I learned this from the Keynesians. During the long (1950s-70s) debate over the relative effectiveness [...] View the full post at: Do Higher Interest Rates Really Cause Inflation? Related posts: Fed Hoenig’s View on Interest Rates and Inflation High Anxiety: Interest and Inflation Rates What’s behind Recent Changes in Long-Term Interest Rates?