Tuesday, May 26, 2015

Get Your Own Business Open

The warnings keep coming in from people who understand:
That is totally inappropriate. The unemployment rate is essentially at what economists call “NAIRU” [Non-Accelerating Inflation Rate of Unemployment]… When I went to school, you’d be laughed out of the classroom if you said the right interest rate when unemployment rate was five four [5.4%] was zero – it was just the most preposterous thing you could imagine. Or that the Fed should have quintupled its balance sheet in five years.
Feel free to forward this by email to three of your friends.