Tuesday, 14 May 2013

Quote of the Day: "The Greatest Understatement in the History of Economics"

Joseph Solerno today wrote a fitting piece titled "The Greatest Understatement in the History of Economics",
Responding to a question after his speech in Stockholm earlier today, Federal Reserve Bank of Philadelphia President Charles Plosser admitted that the Fed’s policy of targeting a zero interest rate “is increasingly troubling to many people on the Fed.” Plosser went on to state, “We’re very conscious of the fact that keeping rates at zero for very long periods of time can distort decision making in various ways.” Ya think?

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