Ep. 243 To Understand (Price) Inflation Then and Now, Follow the Money
Bob Murphy Show
00:00
Did the Fed Start Paying Banks to Not Make Loans?
The fed began paying interest on reserves to the commercial banks. The argument goes that you didn't see price inflation aggressively shoot up because all that money just stayed bottled up in the banks. Soget, let mey say again, the growth rate of m one was the highest in december two thousand eight that it had been since 19 60,. except for one period in early 19 87.
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