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Larry Summers: Four things the Fed should do now to help the economy
Earlier this week, I spoke in Houston at a forum sponsored by the Dallas Federal Reserve. Inevitably given that I was at the Fed, the topic turned to monetary policy. On monetary policy, Dallas Fed President Steven Kaplan asked what I thought the Fed should be doing and saying. I suggested four modifications to its current posture. First, it should acknowledge that the neutral rate is now close to zero and it may well remain under 2 percent for the foreseeable future. With the economy growing at below 2 percent over the last year, total hours of work essentially flat for the last 6 months, and with long term ... (full story)
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- Sep 30, 2016 10:39pm Sep 30, 2016 10:39pm
- ThunderHeart
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- Davit
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