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"We’re at the limits of our understanding of how monetary policy affects the economy,"...

"We’re at the limits of our understanding of how monetary policy affects the economy," says Jeffrey Lacker, the most persistent internal Fed critic of its uber-easy policies, with 13 out of 24 dissents at FOMC meetings. "Just throwing money at the economy is unlikely to solve the problems that are keeping a 55-year-old furniture worker from finding a good competitive job."
Comments (3)
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    "...at the limits of our understanding..."? More like "passed the limits of understanding years ago" and now proceeding ever deeper into "have no clue but let's experiment anyway" territory.
    9 Jan 2013, 06:50 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    (the man from Georgia is always one step ahead of me)

     

    "Just throwing money at the economy is unlikely to solve the problems..."

     

    And all this time we thought they were "fine tuning."

     

    What is a "furniture worker?"

     

    Lacker knows something.
    9 Jan 2013, 07:08 AM Reply Like
  • rambler1
    , contributor
    Comments (618) | Send Message
     
    The more they throw money at the economy the more nervous it personally makes me & I've been taking down my spending. I'm especially concerned that savings interest rates are nil, and that used to be monies I felt comfortable spending.
    9 Jan 2013, 08:20 AM Reply Like
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