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Paul Romer · Oct 26, 2023

It Would be Crazy to Raise Rates

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In my interview on Bloomberg (also picked up here) I responded to a question about what the Fed should do by saying “It would be crazy to raise rates.” I meant that literally. A Fact Beats a Theory Every Time I prefaced my remarks by saying that no one expected what has happened–inflation has declined dramatically without any perceptible reduction in employment or any slow down…

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