Setting the record straight on inflation (with Mike Konczal)
Pitchfork Economics with Nick Hanauer
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The Limitations of Monetary Policy and the Need for Fiscal Policy
This chapter explores the limitations of using monetary policy alone to control the economy and discusses the importance of fiscal policy, such as progressive tax systems. It highlights the changes in tax policy since the 1980s and suggests that raising taxes can be an effective strategy to cool down a hot economy. The chapter also touches on the impact of low interest rates and the actions taken by the Federal Reserve during the COVID-19 pandemic.
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