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The Importance of Fiscal Policy in Moments of Crisis
I don't think that the people who said, let's give out $1,200 checks, we're calculating, and then 9% inflation. And like, we're going to come out better here, right? I don't think there was that sense. If we had done nothing, what would have happened? Now, we'll never actually know, right? But it is very obvious that the Federal Reserve stepping in had this impact.