Archive for April 21st, 2008

Larry's Blog

Watch Out For That Primrose Path

April 21, 2008

The FOMC is authorized to use monetary policy to promote growth and preserve price stability. As every serious student of economics learns, that dual mandate creates an immediate problem. Satisfying two objectives with one policy tool is like trying to solve an algebra problem that has two unknowns but only one equation. For a sound […] More