2 ms·
Huh? There have multiple structural changes in the fundamentals of the economy over the last seventy years. The problems the Fed faced from 1945-1975 - with e
by bwestergard 4y ago
Huh?
There have multiple structural changes in the fundamentals of the economy over the last seventy years.
The problems the Fed faced from 1945-1975 - with explosive growth, the services share of employment relatively low, wages following productivity - were entirely different from those faced subsequently.
- bombcar 4y ago1948 and 1956 is when the 30 year fixed mortgage came into existence in the USA, and arguably the point at which the purpose of the Fed became propping up house prices.