Swiss Economicblogs.org
Macroeconomic slack is such an easy, intuitive concept that only Economists and central bankers (same thing) could possibly mess it up. But mess it up they have. Spending years talking about a labor shortage, and getting the financial media to report this as fact, those at the Federal Reserve, in particular, pointed to this as proof QE and ZIRP had fulfilled the monetary policy mandates – both of them. A labor shortage would’ve meant full or maximum employment, the...
Read More »Inflation Hysteria #2 (Slack-edotes)
