Monetary policy operates with long and variable lags, so attempts to fine-tune the economy make things worse.
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6 Sept 2010 · held 1 day
Scott Sumner quoted turned
In the 1970s I thought monetary policy operated with long and variable lags, and thus fine-tuning would make things worse.
In the 1970s I thought monetary policy operated with long and variable lags, and thus fine-tuning would make things worse.