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misterkel's avatar

Low rates is less than half of it.

The Covid relief bills, vaccinating the economy with Trillions of Burn money, was at least as responsible.

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Tam Hunt's avatar

Excellent piece, as usual. Have you looked into the effectiveness of the Fed, however, vs. pre-Fed financial panics? My intuition (not having done the empirical analysis yet) is that there's probably little difference in financial stability pre and post-Fed, and that the Fed is simply another way for powerful interests to keep on making massive amounts of easy money. End the Fed? Looking more and more like Ron Paul may be on to something.

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