Raising interest rates to tame inflation will o...

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Raising interest rates to tame inflation will only cause more pain | Joseph Stiglitz | The Guardian | International Economics: IB Economics | Scoop.it

From www.theguardian.com - December 9, 2022 9:51 AM

Graham Watson's insight:

Joseph Stiglitz takes a view regarding the future direction of travel as far as monetary policy is concerned: his view is that central banks tightening monetary policy is destined to precipitate recessions.

His argument, and that of many, is that tighter monetary policy will have no impact upon the supply of computer chips or oil but will reduce expenditure and thus its effects will fall most heavily on the most vulnerable. Instead, his view is that targeted fiscal policy would be much more appropriate as we attempt to 'normalise' interest rates rather than using them to choke off seemingly non-existent demand-side pressure.

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From www.youtube.com - April 25, 2:23 AM

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