Jon Sindreu on Global Financial Flows and the Balance of Trade
Macro Musings with David Beckworth
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The Liquidity Preference Theory Is the Only One That Is Empirically True, Right?
"The interest rade is mostly a policy variable," he says. "I think that this idea that, you know, ths steady purchase o like treasuries cast this price effect is mistaken" He argues the banker international settlements view on this - which is directly rooted in money -- is probably more accurate.
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