The Limits of Monetary Policy
Economist Willem Buiter notes:
“The US Federal Reserve's surprise weekend
announcement of a large interest-rate cut, renewed quantitative easing, and
other expansionary measures is a welcome response to the COVID-19 pandemic. But
as markets were quick to note, monetary policy cannot save us from this crisis.”
Fiscal Stimulus takes Centerstage
The Return of Big Government
Much maligned in recent years, big government will
come back—and with it, the potential for both greater good and evil.