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« Financial Innovation or Superfluous Discovery | Main | Does Finding the Work in Your Discipline to Be Misguided Mean You Should Find Another Discipline? »

Latest Podcast

...wherein I try my hand at talking about signs of recovery and explaining policy lags.  Listen here.

Posted by on April 23, 2009 at 01:59 PM |

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Dr. Horwitz,

I am disappointed you were not asked about the risk of a round 2 inflationary-interest rate induced recession following the onset of round 1 recovery (I realize you guys are optimistic Austrians). How does the US fed know when or how aggressively to begin mopping up the incredible dose of liquidity it has injected once the money multiplier kicks in high gear and the demand for money begins to fall? On top of this scenario, what would be the delayed effect (1-2 years in future) of deficit stimulus spending?

Does anyone believe that the unstated policy of the US fed (under political pressure) is to deliberately create a prolonged very high (but somewhat controlled) inflationary/devaluation environment?

Posted by: K Sralla | April 23, 2009 at 05:02 PM

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