Mar
30
I Would be a Great Fed Chair, from Gordon Haave
March 30, 2007 |
I would be a great Fed Chair. I would just leave the money supply alone and never touch it. Now, some say that deflation is a bad thing. Why should it be? Wouldn't you like the prices of the goods and services you buy to go down?
The argument is made, though, that wages are sticky, and wages won't move down, so the net result is economic slowdown because wages are too high. Fine. If the economy is forecast to grow 4% this year, increase the money supply 4%.
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