What the New Cold War Means for the Global Economy with Niall Ferguson
Merryn Talks Money
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The Fed Chair Can't Control the Other Moving Parts
I don't think it felt very lucky to be Fed chairman during the painful recession of the early 80s. Reagan was president and that meant a regime change, not just in terms of fiscal policy,. The 1980s economy of the United States came out of that recession ready for a period of sustained growth. That's not luck. Paul Volcker couldn't control all that. And in the same way, a J-PAL can't control the other moving parts. He doesn't really have any say over trade policy - which is as protectionist as Donald Trump's trade policy.
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