Vice Chair Kohn on fiscal expansion

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Yes, he’s got that part very right!!!

>   On Mon, May 25, 2009 at 11:06 PM, Roger wrote:
>   Federal Reserve Vice Chairman Donald Kohn:
>   Interactions between Monetary and Fiscal Policy in the Current Situation
>   [I]n the current weak economic environment, a fiscal expansion may be much more
>   effective in providing a sustained boost to economic activity.
>   Doesn’t say anything about when. Looks like it’s already too late to forestall a pileup.