Babysitting the US economy

Krugman is always good for a nice read. His June 14th NT Times op-ed, “Stay the Course“, does not disappoint. He writes, “For this is the third time in history that a major economy has found itself in a liquidity trap, a situation in which interest-rate cuts, the conventional way to perk up the economy, have reached their limit. When this happens, unconventional measures are the only way to fight recession.”
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