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The Rule of Law vs the Rule of Experts
Our worldviews shape the ways in which we approach problems, challenges, and questions. Our “worldviews,” as I refer to them in this post, are so deeply embedded in our minds that we don’t usually realize our thoughts are driven by them. Monetary policy is not free from this “worldview” effect. There is a big debate […]
READ MOREBerkshire Business and Professional Women Meeting
On Monday, May 1, I was a featured speaker at a Berkshire Business and Professional Women meeting in Pittsfield, Mass. It was wonderful to connect with the organization, whose mission is “to promote full participation, equity, and economic self-sufficiency for America’s working women. Since 1965, the Berkshire chapter of BPW has been honoring local women […]
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Reserve Holdings and the Size of the Fed’s Balance Sheet
Reserves are greater than they were before the crisis because, beginning in 2008, the Fed created more reserves. It did so in the process of expanding its balance sheet. Reserves will not fall—indeed, cannot fall—until the Fed shrinks its balance sheet.
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