Market Currents
Speaking in Japan, FRBNY President Dudley quashes thoughts of tightening monetary policy with so...
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Monday, April 11, 2011, 9:34 AM ETSpeaking in Japan, FRBNY President Dudley quashes thoughts of tightening monetary policy with so much slack in the economy. Possibly getting a dig in at the ECB, he warns headline inflation will get a boost from oil prices, but hiking rates because of that would be a policy mistake. No iPad mentions today.
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To fix the structural problems you have to actually change something - like make easier to do productive activity in the US and make it harder to do non-productive things like fiunancial engenreeing that onlys erves to move money around while not producing anything. There is a need to reduce non-productive burden/' overhead on productiver activities , i.e. cut government spending. This is hard work. It is so much easier to enter numbers on a "money issuing" computer.