Farmer Bernanke and His New Farm Tools
August 19, 2010 at 19:10 PM EDT
Building upon Christopher Hayes’ metaphor of central banking as farming, Neil Irwin shows that some of the issues in implementing unconventional monetary policy can be tricky since no one at the Fed has ever tried them before. Fed officials are reluctant to act because they are uncertain of the outcome. Here is Irwin: If [...]