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Danielle DiMartino Booth: A Banking Panic Makes The Fed’s Job More Difficult
Forward Guidance
There's No Perfect Compromise
The alternative is we work under the assumption that the only way that our financial system can operate is at the zero bound. And, and does that make taxpayers whole in the end? Or does that make the financial system that much more rickety such that you take down an entire economy eventually? We have to find a way to get past needing to exist for our very existence at thezero bound. There's all I'm saying is there's no perfect answers. But nor did it exist when Jay Powell was blowing up the Fed's balance sheet and keeping rates artificially repressed. That didn't need to happen.
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