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Allison Schrager: The Fed Is Giving Americans a Harsh Lesson in Lag Time
Monetary policy isn't like flipping a switch. Inflation has seeped into the economy’s bones, and interest rates will need to go higher for longer to turn the tide. To state what is now especially obvious, there's still a lot we don't know about how monetary policy works, and perhaps more crucially, when it will work. The Federal Reserve has
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Posted: October 18, 2022 Tuesday 06:00 AM