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home / news releases / SCHQ - Show Some Rooseveltian Resolve (And Do It Now)


SCHQ - Show Some Rooseveltian Resolve (And Do It Now)

People keep asking me what the Fed should do. I've been answering that question for 11 years, and my answer is always the same:

  1. Stop paying IOER right NOW. It was a mistake from the very beginning in October 2008. It's a contractionary policy, as even the Fed acknowledges. Why would you want a contractionary monetary policy in October 2008? Why would you want a contractionary monetary policy today?
  2. Switch to level targeting NOW, at least during the crisis and recovery. Preferably NGDP level targeting, but more realistically price level targeting.
  3. Ask Congress

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Stock Information

Company Name: Schwab Long-Term U.S. Treasury ETF
Stock Symbol: SCHQ
Market: NYSE

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