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Alan Blinder: The Fed Shouldn’t Raise Interest Rates Too Quickly
Central bankers need to act like the tortoise, not the hare, lest they overshoot and cause a recession. Here’s a missive to both the Federal Reserve and the financial markets: As the central bank raises interest rates, remember the tortoise, the hare and Milton Friedman. In the well-known fable, the tortoise, who was methodical, not at all
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Posted: July 20, 2022 Wednesday 12:24 PM