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The Fed’s “Krugman Crank” is Broken


By www - Posted on 21 June 2013

From John Carney at CNBC comes this insight into why markets have reacted so violently to comments by Fed Chief Ben Bernanke on tapering the central bank’s money printing effort.
Finally, there’s the question of what I’ll call the Krugman Crank. Paul Krugman has forcibly argued for the view that the Fed’s best—perhaps only—tool when interest [...]