A fool’s paradise

August 26, 2010 18:34

What is monetary insanity? It is akin to going down a remote and narrow country lane and expecting a super highway around each and every corner. The US Federal Reserve pursued a highly expansionary monetary policy during 2001-2005, lowering money market rates to 1% with rapid liquidity injection.

By Hossein Askari and Noureddine Krichene at Asia Times Online

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