Alan S. Blinder on Monetary and Fiscal Policy: Rowing with Both Oars
IMF Podcasts
The Fed's Forbearance Lasted a Few Months, and It Paid Off.
Clinton understood that interest rates had to come down. The Fed's forbearance only lasted a few months, he says. Clinton is followed by George Bush and his legacy of budget surpluses didn't last very long. There's a saying the sins of the father have visited on the son. This is the reverse.
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