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The single interest rate lever is supposed to be Pavlovian in its stimulus/response. When the rate goes down that means “spend”. When it goes up it means “don’t spend”. That’s the belief, which fiscal policy is supposed to follow along behind like a faithful hound.What’s amusing is that this response process doesn’t appear to take into account expectations....New WaylandThe Perpetual Problem With Interest RatesNeilW
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The single interest rate lever is supposed to be Pavlovian in its stimulus/response. When the rate goes down that means “spend”. When it goes up it means “don’t spend”. That’s the belief, which fiscal policy is supposed to follow along behind like a faithful hound.What’s amusing is that this response process doesn’t appear to take into account expectations....New WaylandThe Perpetual Problem With Interest RatesNeilW
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Mike Norman considers the following as important:
This could be interesting, too:
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The single interest rate lever is supposed to be Pavlovian in its stimulus/response. When the rate goes down that means “spend”. When it goes up it means “don’t spend”. That’s the belief, which fiscal policy is supposed to follow along behind like a faithful hound.New WaylandWhat’s amusing is that this response process doesn’t appear to take into account expectations....
The Perpetual Problem With Interest Rates
NeilW