Sunday Read: Monetary Policy and Life
History and literature are better guides to monetary policy than most economic models.
Though aimed at market participants, I want the Macro Letter to appeal to a wider audience— one perhaps not as acquainted with the centrality of central banks in economic life. My goal for this post is to explain, through history and literature, why I think central banks are some of the most critical institutions in modern life.
My fascination with cent…
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