Printing money & economic miscellany
Steve Roth ponders what printing money actually means. Says Narayana Kocherlakota, former president of the Federal Reserve Bank of Minneapolis: “Fiscal deficit spending is helicopter money. The rest is portfolio fiddling.” My own suspicion is that Trump’s desire to spend money on various things may generate quite a bit of helicopter money, in both the literal and figurative sense. Alas, co-cyclical, rather than contra-cyclical.
Fed Up sounds like a book worth a second glance.
Texas cattle ranchers may be the first casualties of Trump’s trade wars.