To this day I remember when I was in eighth grade and my father first explained to me that there was a man named Alan Greenspan who ran a government agency that watched with an eagle eye for the day when there might be an insufficient number of unemployed people. If too many people had jobs, he was supposed to swoop in, tighten the money supply, and make sure some people lost their jobs. Otherwise, wages might get too high!
— Matthew Yglesias, Monetary Policy is Policy; The Fed is a Government Agency (via RC3)

Comments

  1. Man I love this quote.

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