This Nobel Laureate's view on Monetary Policy must make our government tremble in its election boots
Paul Krugman writes in the New York Times last week:
"And it will be a real tragedy if exaggerated fear of inflation causes the Federal Reserve to push interest rates too high for too long, leading to a gratuitous recession that throws away many of the gains we’ve made".
Gosh, Krugman must be falling off his chair regards how our Reserve Bank is doing its best to deliberately "engineer a recession", which is what the Bank has formally stated.
Should Labour lose the upcoming election, it will be for this reason, more than any other.