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Deflationary in example sentence

We also agree on the need for a radical change to the financial-policy regime to promote stability and reduce the risk of future crises But, while White raises valid issues concerning the separate issue of how to respond to the post-crisis mess of debt overhang, deleveraging, and deflationary pressures, he does not undermine my case for considering the option of using OMF to fund increased fiscal deficits.
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