Arnold Kling argues that “bond market vigilantes” may be more powerful than the Fed. This seems true, but I’m not sure that the relative influence is changing over time.
{ 2002 08 26 }
Freedom of the press belongs to those who own one. - A.J. Liebling
{ 2002 08 26 }
Arnold Kling argues that “bond market vigilantes” may be more powerful than the Fed. This seems true, but I’m not sure that the relative influence is changing over time.
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