Is the Fed's Medicine Really Poison?

It's not every day that a central banker admits that his medicine for curing the last crisis may be laying the groundwork for the next. 

It's not every day that a central banker admits that his medicine for curing the last crisis may be laying the groundwork for the next. But that's exactly what Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis, said last week at the annual Hyman P. Minsky Conference at the Levy Economics Institute of Bard College.

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