TODAY'S POLITICAL INCENTIVES. TOMORROW'S ECONOMIC CONSEQUENCES.
One of the greatest challenges in economic policymaking is the difference between short-term decisions and long-term consequences.
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TWO INSTITUTIONS. VERY DIFFERENT POWER.
The Federal Reserve and Congress both influence our economy, but their responsibilities are
fundamentally different.
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Two Policies. Two Very Different Jobs.
Fiscal policy and monetary policy are often discussed as though they are interchangeable.
They arenβt.
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Lambs Chasing Butterflies in a Minefield
Sometimes the greatest danger isnβt where everyone is looking.
We spend enormous amounts of time analyzing the Federal Reserve. Will rates rise? Will they
fall? What will the next quarter-point move be?
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