December 22, 2008 at 10:45 AM EST
Fed Shoots for Target Range
The Federal Reserve has taken interest rates to 0. They've clearly started a program of quantitative easing but what exactly does that mean? Is the Fed pushing on a string as Japan has done for almost two decades? The quick answer is no but that doesn't tell us much. We may not be in for a 2-decade-long Japanese malaise but we'll experience a whole new set of circumstances. In what will hopefully be a shorter holiday version of the e-letter I'll tackle these questions and more. I Meant to Do That In my house when someone stumbles or makes ...
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