Government’s Snake Oil Won’t Cure Jobs Ailment
This article is for subscribers only.
May 10 (Bloomberg) -- Want to know what Federal Reservepolicy makers are thinking at any given time? Take a look atwhat the research staff is doing.
Back in the early 1990s, the staff was busy trying toexplain the inexplicable weakness in M2, the Fed’s broadmonetary aggregate. Nowadays its efforts are focused onunemployment.