It Will Probably Take a Recession to Tame Inflation
But it’s unlikely to happen this year given the underlying strength of the economy.
by Bob Diamond, Larry KantorMany leading central bankers now argue that, instead of just playing its traditional role of deciding the allocation of government spending, investment, taxes, and transfers, fiscal policy must substitute for monetary policy in economic fine-tuning and fighting recession. That would be a big mistake.
by Kenneth Rogoff