On a day when stocks were pushed down another 3 percent on reports of more weakness in housing and manufacturing — bringing the decline this year to a stomach-churning 9 percent — all the major players in Washington agreed on the need for putting extra money into people’s hands quickly. (New York Times, Friday)
Nearly 100 years of tinkering with interest rates and anti-recession packages, and they still haven't figured it out.
FEE Timely Classic
The Impossible Task of the Fed by Ernest G. Ross