by R. David Ranson
Cato Institute
May 23, 2014
Cato Journal
The Fed’s decisions are hampered by the need to preserve banks that are “too big to fail” and by flawed methods of evaluating the labor market or the cost of living in public discourse. But there are reasons to fear that, even if all obstacles could be corrected, there is something inherently ineffective about the Fed’s current monetary policies. The assumption that they have stimulated or bolstered the economic recovery is based much more on doctrine than on evidence.

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