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Rick Rieder, Russ Brownback and Navin Saigal contend that if a negative monetary policy endgame is to be avoided, particularly in the face of recent economic declines, it will likely be technological advances of a profound kind that get us there.
Last year, at the beginning of September, we wrote a blog post entitled The Monetary Policy Endgame that laid out one possible future for the path of monetary policy, should economic growth falter, productivity not materialize and populist politics continue to thrive. Some parts of that analysis seem worryingly prescient nine months hence, so