Month: May 2020

The Long Pain of Policy Mishaps and Free Spending

I know we’re in a pandemic, but the Federal Reserve’s recent agenda is rather incredible. The Federal Funds Rate is basically 0 percent. On top of that, COVID-19 fiscal stimulus will push our 2020 deficit to near $4 trillion. The central bank is also going to buy unlimited amounts of U.S. Treasury securities to increase liquidity in the financial …

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