The Fed Is Right To Turn On the Money Tap

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By Martin Wolf

Published: November 9 2010 20:19 | Last updated: November 9 2010 20:19

The sky is falling, scream the hysterics: the Federal Reserve is pouring forth dollars in such quantities that they will soon be worthless. Nothing could be further from the truth. As in Japan, the policy known as "quantitative easing" is far more likely to prove ineffective than lethal. It is a leaky hose, not a monetary Noah's Flood.

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