3min chapter

Animal Spirits Podcast cover image

The Lender of Last Resort (EP.300)

Animal Spirits Podcast

CHAPTER

The Fed Shouldn't Care About the Stock Market

The Fed's mandate is price stability and employment, not the stock market. Ben Bernanke says it would be ludicrous to raise rates in the midst of a banking crisis. He argues that services inflation is off the charts; goods are basically mostly in deflation.

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