Peter Stella on Fed Losses, Backdoor Fiscal Stimulus and Credit Easing
Macro Hive Conversations With Bilal Hafeez
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Should the Fed Have Lost a Trillion Dollars?
A central bank is policy insolvent when its losses are so high that it can achieve its inflation target. The Fed lost a trillion dollars but still had a good policy impact, says Alan Greenspan. In many cultures, we have different stories that a story in the US angle can anglo Story: "The goose lays the golden eggs"
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