The Fed's Policy of Monetary Ease

In 1932, the Federal Reserve System continued to pursue the policy of monetary ease which it had followed since the beginning of the Depression. The public simply ignored these statements and took them at face value because central bankers get to classify their own policy. In 1969 as in 1932, the public laughed at these statements. They laughed at the Fed in 1969 saying it's being restrictive because obviously it wasn't. QE is massive monetary easing. Is there any evidence that any monetary easing happened? Not in the real economy, certainly not in the marketplace, but it's called monetary easing. There's no reason to believe these people, but yet nowadays we do.

Play episode from 10:24

Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app