He discusses the big changes to the Fed's balance sheet and concludes: "Does the explosive growth of the monetary base in Figure 1 imply uncontrollable inflationary pressures? My answer: not yet, but stay tuned."
Sunday, March 29, 2009
Monetary Base
Prof Hamilton at Econbrowser has an instructive post on the monetary base.
He discusses the big changes to the Fed's balance sheet and concludes: "Does the explosive growth of the monetary base in Figure 1 imply uncontrollable inflationary pressures? My answer: not yet, but stay tuned."
He discusses the big changes to the Fed's balance sheet and concludes: "Does the explosive growth of the monetary base in Figure 1 imply uncontrollable inflationary pressures? My answer: not yet, but stay tuned."
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