reblogged from robertreich
Robert Reich: Why No Amount of Fiscal or Monetary Stimulus Will Be Enough, Given How Small A Share of Total Income the Middle Now...
Fiscal policy is deadlocked. So, apparently, is monetary policy.
The Fed’s decision today (Tuesday) to keep short-term interest rates near zero is no surprise. What’s odd is its apparent decision not to boost the economy by buying hundreds of billions of bonds — despite its acknowledgment…
