“The Fed’s Anti-Inflation Exit Strategy Will Fail”
“Federal Reserve Chairman Ben Bernanke has explained his exit strategy to prevent future inflation. The Fed recently began to pay interest to banks on the reserves they hold in their vaults. Using this new tool, it claims the ability to get banks to keep the money instead of lending it out, thus containing the money supply and inflation.” Read more.
“The Fed’s Anti-Inflation Exit Strategy Will Fail”
Allan Meltzer
The Wall Street Journal, January 27, 2010.
