Wednesday, December 10, 2008

"Crowding Out" -- The Fed learns a lesson too late.

U.S. Federal Reserve Considers Issuing Own Debt, WSJ Says
Dec. 10 (Bloomberg)

Lesson #2 for Bernanke on the meaning of "crowding out". But then he missed lesson #1. This story actually came out (rather obtusely) on Nov. 17th (see my early posting).

JRB

12/10/08

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