4 ms·
It is not at all clear that monetary policy can actually work here, which is what the statement is saying. When your demand side policy doesn't work, it's just
by selridge 8mo ago
It is not at all clear that monetary policy can actually work here, which is what the statement is saying. When your demand side policy doesn't work, it's just pushing rope. It doesn't matter if or how bad you want a certain outcome.