Alan Blinder, "A Monetary and Fiscal History of the United States, 1961-2021" (Princeton UP, 2022)
New Books in Economics
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The Effects of Fiscal Stimulus on Interest Rates
The recovery from the Great Recession was long and deep. We got unemployment up to the 10 percent range, which is extraordinary. After that, starting after the Republicans took the House in 2010, fiscal policy turned contractionary for three, four years in a row. Ben Bernanke in his closing years as chairman was imploring the Congress constantly not to do that. But they didn't listen. Same was true of Janet Yellen when she came in. She had an unemployment rate by a member correctly at the beginning of her time as chairman about six and a half percent,. Not 3 and a half like we have now.
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