It just isn't working. That old interest-rate medicine, delivered in a slow, intravenous drip, is no...
It just isn't working. That old interest-rate medicine, delivered in a slow, intravenous drip, is not sedating the patient. What's scary, for anyone with even a soupcon of contrarian instinct, is that everyone seems to have adopted this view after five 25 basis points rate increases in the federal funds rate in nine months. Even the spontaneous slowdown school has done a 180-degree turnaround. Not only is the Federal Reserve ineffective in slowing the US economy but its gradualist approach may actually be fueling the boom. Come again? This is like the one or two yahoos on the Bank of ...
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