Letter to the editor

Letter to the editor
Submitted by Dagny Taggart on Mon, 04/27/2009 - 05:45
in

In response to N. Gregory Mankiw's suggestion that the Federal Reserve should institute negative interest rates in order to stimulate the economy, Schiff wrote a concise rebuttal in the New York Times.  This quote summarizes things nicely:  "But with its ability to wipe out savings and stifle investment, inflation is the ultimate weapon of financial destruction."

Read the rest here.

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