“The leaders of the Federal Reserve are talking like people ready to sit down and let others take the lead in addressing the nation’s economic problems. ‘Monetary policy cannot be a panacea,’ the Fed’s chairman, Ben S. Bernanke, told an audience of bankers Tuesday in Atlanta.” (New York Times)
Not a panacea? Can it cure anything at all?
FEE Timely Classic
“‘F’ as in Fed” by Sheldon Richman