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The Downside of the Fed’s Increasingly Complicated Expectations Game

Harvard Business Review

Yesterday, the Federal Reserve announced that it’s kind of sort of about to start ever-so-timidly pulling back on the massive monetary stimulus it’s been pouring out since the financial crisis. You could read this as trying to deflect blame for what transpired later: The crisis happened because we did such a great job!

Bond 8
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What Alan Greenspan Has Learned Since 2008

Harvard Business Review

I tried to get Greenspan to talk me for my November HBR article on economics and finance since the crisis , but he said he’d promised his publisher to keep mum until the book was out, which was too late for my purposes. I had an idea of constructing a certain statistical procedure. It missed the crisis. Let’s do it.”.