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DISTURBING ECONOMIC MYSTERIES : Is Federal Reserve Policy Working?

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  • Philip Arestis
  • John McCombie

Abstract

Many observers believe the Federal Reserve will continue to raise interest rates to stem any increase in inflationary expectations. But these economists present a closely argued theoretical case that many of the assumptions underlying current monetary policy may be wrong. They believe the U.S. economy is vulnerable, and the Fed may be tightening prematurely.

Suggested Citation

  • Philip Arestis & John McCombie, 2005. "DISTURBING ECONOMIC MYSTERIES : Is Federal Reserve Policy Working?," Challenge, Taylor & Francis Journals, vol. 48(2), pages 48-66.
  • Handle: RePEc:mes:challe:v:48:y:2005:i:2:p:48-66
    DOI: 10.1080/05775132.2005.11034291
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