Bernanke is Making the Fiscal Cliff Worse
Posted at 1:30 p.m. on Dec. 5, 2012
Matthew Yglesias: “the ‘fiscal cliff’ doesn’t shake America’s long-term economic foundations in any particular way. A sensible central bank would be trying to offer reassurance on this score, urging congress to avoid the turbulence and temporary dislocation…while still emphasizing that the Fed will do absolutely everything it can think of to keep medium-term nominal growth on track.”
“Instead, starting with coining the alarming and not-very-accurate metaphor ‘fiscal cliff’ Ben Bernanke has been engaged in an effor to deliberately unsettle people’s expectations and spread alarm.”
