Quote of the day

At the Boston Fed Conference on Financial Risks and Interest Rate Policy:

“If effective monetary policy means taking away the punch bowl just as the party gets going, then effective financial stability policy might mean taking away the punch bowl before the guests have even arrived.”

Loretta Mester

2 thoughts on “Quote of the day

  1. My translation: The guests wouldn’t do the right things with money so it’s just better off with them missing what they shouldn’t have.
    Spoken like a true statist who thinks economic freedom is a such a terrible, frightful thing, as to justify denying it fuel. And people wonder why the economy is doing poorly.

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