All Commentary
Thursday, November 4, 2010

Fed to Create $600 Billion for Bond Buy

“The Federal Reserve, getting ahead of the battles that will dominate national politics over the next two years, moved Wednesday to jolt the economy into recovery with a bold but risky plan to pump $600 billion into the banking system.” (New York Times)

So that’s why there’s no recovery: too little money and sky-high interest rates.

FEE Timely Classic
“The Value of Money” by Hans F. Sennholz