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.
>
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