Letting Central Banks Manage the Economy Might Not Be So Bad

  • Trade, immigration curbs could lift inflation, depress growth
  • Greenspan sees risk of eventual stagflation in the U.S.

It’s practically become conventional wisdom among the economic pundit class that central bankers have been playing far too big a role in managing the global economy. If only other policy makers came off the sidelines and joined in from the fiscal side, all would be right with the world.

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