On September 8th, the Wall Street Journal published Center director Edmund Phelps's "Hard Truths About Easy Money," based on his examination of Fed policy with Center members Hian Teck Hoon and Gylfi Zoega. "...The continuation of easy money may be causing or contributing to the stubborn gap between output or employement and their trend paths," Phelps writes, "thus a lull in the growth of output and employement." Read the full piece here.
