Wednesday, 15 October 2014

Warren Mosler kills some myths, as usual

I reject the belief that the economy is strong and operating anywhere near full employment. I also reject the belief that a zero-rate policy is inflationary, supports aggregate demand, or weakens the currency, or that higher rates slow the economy and reduce inflation. Additionally, I reject the mainstream view that employment is materially improving, the output gap is closing, and inflation is rising and returning to the Fed’s targets.

There is no right time for the Fed to raise rates! Click to read Warren's article in full.

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