Limits to Fed policy

By hhei on August 12, 2011 11:51 AM | No Comments | No TrackBacks

In the 70s and 80s economists Ed Prescott and Tom Sargent found that "monetary policy was somewhat potent perhaps in the short term, but not very potent in the long term," says V.V. Chari in a Business Week interview about Federal Reserve Bank of Minneapolis President Narayana Kocherlakota.

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