Today in "Economists Are NOT Totally Clueless" (Interlude; Part 2 of 3 or 4)
Tyler Cowen can count: In sum, maybe three percent expected inflation conflicts with the desire to rapidly recapitalize banks through maintaining a wide interest rate spread. Maybe we need that zero nominal short rate or at least the Fed thinks we do…. I also regard this as a somewhat gruesome hypothesis. It means that “Main […]