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> Stabilizing the price of the USD during recessions is literally the definition of Keynesian. Except the reverse doesn't happen (since the gold standard was d
by ric2b 6y ago
> Stabilizing the price of the USD during recessions is literally the definition of Keynesian.
Except the reverse doesn't happen (since the gold standard was dropped), so it's at best "half-Keynesian":
https://fred.stlouisfed.org/series/fedfunds https://fred.stlouisfed.org/series/fedfunds