“The question is will this led to a replay of the 1970s when inflation got out of hand, or will it will resemble the 1930s, when the Fed needed to jettison its nominal anchor to aggressively offset the Great Depression?” said Gary Richardson, a professor of economics at the University of California, Irvine and an expert on Fed history. “Hopefully, we’ll be somewhere in between. A happy medium.”
 
For the full story, please visit https://www.ft.com/content/e1a3a865-1738-40b3-9180-2ca8f886f4f0.

 

© UC Irvine School of Social Sciences - 3151 Social Sciences Plaza, Irvine, CA 92697-5100 - 949.824.2766