Let It Be Known

by Will on December 17, 2012

I have tried several times to write a post laying out my thoughts on the Fed’s new policy. I have not been able to do it in a way that seemed engaging or interesting enough to publish. You dodged that bullet!

In short, I think this policy is well-intentioned, but probably will not have much effect. I further suspect that the failure of monetarist policies in this crisis will probably resurrect the old debate between the currency school (which I think has been discredited, given prevailing institutions) and the banking school (which I think has been vindicated, with the same caveat). There’s no entertaining way to say that, right?

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