1:" The only coherent way of characterizing monetary policy as being either too“easy” or “tight” is relative to the policy stance expected to achieve the central bank’s goals.
2: “Monetary policy can be highly effective in reviving a weak economy even if short-term interest rates are already near zero.”
3:"After mid-2008, and especially in early October, the expected growth in the price level and nominal GDP fell increasingly far below the Fed’s implicit target."
"The logical implication of these three premises is that the Fed has the ability to boost nominal growth expectations, and if they let those expectations fall far below target (as they did last fall) the subsequent recession (depression?) is their fault."
fed can bust us out of the present stag eh ??
okay so counter act .....this !!!!
the cameron-clegg austerian's dry gultch
