Yeah, It Was (Mostly) the Fed’s Fault
A not uncommon reaction from central bank defenders in response to criticism is some form of an apology, arguing a lesser of two evils choice. Posing a counterfactual, they present a scenario, say the East Asian Crisis or subsequent Subprime Crisis, which it is then argued would have been much worse but for the interventions … Continue reading Yeah, It Was (Mostly) the Fed’s Fault
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