Mises Daily
Author:
Frank Shostak
Online Publish Date:
In his speech at Jackson Hole, Wyoming, on August 26, 2011, the Fed chairman disappointed most pundits. He did not promise another massive infusion of fake money, i.e., QE3. I suspect that a strengthening in bank lending is an important factor behind the Fed’s decision to postpone the pushing of more money into the economy. The yearly rate of