When danger threatened Metropolis, mild-mannered reporter Clark Kent dashed into the nearest phone booth to change into Superman. When the U.S. economy begins to stall, inflation-hating hawk and president of the Minneapolis Fed, Narayana Kocherlakota, runs up to Ironwood, Michigan to transform into a monetary-policy dove.
Posts tagged ‘Fed’
Imagine you’ve just finished dinner. You sit down to watch one of the various season premieres that will be populating the airwaves. During one of the program breaks, you see a strange commercial showing young people running, old people laughing, and children hugging their parents. It’s got to be one of those commercials for some new prescription medication you think…but no. This is an ad for the Federal Reserve’s new monetary policy tool, QE3. Wondering if you’re dreaming, you think, what channel is this?
If you don’t skip over commercials, this is what you might hear.
ANNOUNCER (in a calm, relaxing tone): If a sluggish economy is keeping you awake at night, and lowering the federal funds rate just hasn’t worked, QE3 is here to help. And if you suffer from the discomfort of chronic, persistent unemployment, QE3 is here to help.