Over-Reliance On Monetary Policy Is THE Problem

Over-Reliance On Monetary Policy Is THE Problem
AP Photo/Jose Luis Magana

I am going to argue here that monetary policy is both less effective than fiscal policy, and that over-reliance on it unnecessarily politicizes monetary policy by putting unelected officials in too prominent an economic role. I would argue that monetary policy should never be the primary macro policy driver in any economy. Yet, when you look around the world it is in almost every advanced economy. 

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