Caroline Baum, Bloomberg I’ve been thinking a lot about monetary policy recently: not so much the question of will they or won’t they...
Caroline Baum, Bloomberg I’ve been thinking a lot about monetary policy recently: not so much the question of will they or won’t they — they being Federal Reserve policy makers — provide additional stimulus. Rather, I’ve been wondering how it is that monetary policy stopped being about the quantity of money and started being about something else: financial conditions, credit allocation, long-term interest rates, expectations, investor preferences, the maturity of the Fed’s portfolio and relief for specific sectors of the economy (housing). I’ve also been wondering whether this is a good or a bad thing. Read More
