The Federal Reserve’s push to eliminate business cycles makes their inevitable recurrence more extreme.

The Morning News https://ift.tt/2UX5Gho

In essence, the Fed has adopted a strategy that works like a one-way ratchet, providing a floor for stock and bond prices but never a ceiling. The result in part has been a series of financial crises, each requiring a bigger bailout than the last.

↩︎ The Washington Post

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