The Scourge Of Keynesian Central Banking, Part 2

The fatal turn in the road toward Keynesian central banking occurred during the early 1990s when Greenspan returned the Fed to strict interest rate pegging and a focus on Economy rather than Money. The interest rate pegging part of it was understandable–even if wrong-headed and futile. As we indicated in Part 1, due to banking innovations you couldn’t measure the money supply […]