And alongside the Fed's Kocherlakota (who says the Fed has faith in the recovery but the central...

|By:, SA News Editor

And alongside the Fed's Kocherlakota (who says the Fed has faith in the recovery but the central bank can't fix joblessness), Nomura's Richard Koo believes monetary policy is ineffective in this kind of recession: "Those with negative equity are not interested in increasing borrowings at any interest rate." (Debate at The Economist)