Posted by WARREN MOSLER on May 26th, 2009
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.