Wednesday, July 21, 2010

Bernanke to Krugman: drop dead

NY Times: "Fed sees no quick end to high jobless rate"

The chairman of the Federal Reserve, in saying that it had no immediate plans to provide additional support to the economy, dashed the hopes of some economists and executives who have been pushing for action to add momentum to the sluggish recovery.
The Fed has already pushed the accelerator to the floor and dropped interest rates to historically low levels. At this point, the only move left is to start paying banks to take money, preferably in those cartoon sacks with the dollar signs on the side.

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