Powell: Discussion of "Crunch Time: Fiscal Crises and the Role of Monetary Policy"

The issue of fiscal sustainability and its interaction with monetary policy is certainly timely.1 Many advanced economies are in an extended period of slow growth and high deficits, and face long-term fiscal pressures from aging populations. I agree with much in this broad-ranging paper.2 In part…

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Powell: Discussion of "Crunch Time: Fiscal Crises and the Role of Monetary Policy"

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