Free Market
Author:
Hans F. Sennholz
Online Publish Date:
The Free Market 20, no. 12 (December 2002) The Federal Reserve System may have run out of room to maneuver. Facing a looming recession, it resolutely lowered its discount rate and frantically expanded its credits. Eager to stimulate the sagging economy, it enabled and encouraged businessmen to invest more and consumers to go ever deeper into