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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?


To: DavesM who wrote (16747)5/11/2005 11:59:21 PM
From: CalculatedRisk  Read Replies (1) | Respond to of 361382
 
The majority of economist were right. If the lousy fiscal package hadn't been enacted, the FED probably would not have had to hold interest rates at emergency levels for 3+ years (an unprecedented period).

Interest rates are a blunt instrument and we are now paying for the poor public and fiscal policies with huge imbalances. Hopefully we can find a way to a "soft landing", but I'm not sanguine.