Why Does The Fed Want Slower Growth?
The Fed has raised interest rates six times in the past year to slow the economy in the belief that unemployment is too low. There is scant evidence, however, that low unemployment leads to inflation, that the economy is in danger of overheating, or that higher interest rates will reduce inflation. Instead, the Fed is merely hastening a downturn that will impose huge costs on society's most disadvantaged.
References listed on IDEAS
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- Ahmed, Shaghil & Rogers, John H., 2000.
"Inflation and the great ratios: Long term evidence from the U.S,"
Journal of Monetary Economics,
Elsevier, vol. 45(1), pages 3-35, February.
- Shaghil Ahmed & John H. Rogers, 1998. "Inflation and the great ratios: long-term evidence from the U.S," International Finance Discussion Papers 628, Board of Governors of the Federal Reserve System (U.S.).
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- Steven M. Fazzari, "undated". "The Investment-Finance Link, Investment and U.S. Fiscal Policy in the 1990s," Economics Public Policy Brief Archive 9, Levy Economics Institute.
- Steven Fazzari, 1993. "The Investment-Finance Link: Investment and U.S. Fiscal Policy in the 1990s," Economics Working Paper Archive wp_98, Levy Economics Institute.
- Bruno, Michael & Easterly, William, 1998. "Inflation crises and long-run growth," Journal of Monetary Economics, Elsevier, vol. 41(1), pages 3-26, February.
- Bruno, Michael & Easterly, William, 1995. "Inflation crises and long-run growth," Policy Research Working Paper Series 1517, The World Bank.
- Michael Bruno & William Easterly, 1995. "Inflation Crises and Long-Run Growth," NBER Working Papers 5209, National Bureau of Economic Research, Inc.
- Marc-Andre Pigeon & L. Randall Wray, "undated". "Down and Out in the United States, An Inside Look at the Out of the Labor Force Population," Economics Public Policy Brief Archive ppb_54, Levy Economics Institute.
- Dimitri B. Papadimitriou & L. Randall Wray, "undated". "Targeting Inflation, The Effects of Monetary Policy on the CPI and Its Housing Component," Economics Public Policy Brief Archive ppb_27, Levy Economics Institute. Full references (including those not matched with items on IDEAS)
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