Tag #Rules-Based Policy

How did political decisions during the 2020 pandemic contribute to the economic downturn, and how did this influence the effectiveness of the Fed's interventions?

The article challenges Furman's critique by highlighting the limitations of applying rigid rules to complex economic situations. It emphasizes the significant role of political decisions in the 2020 economic downturn, arguing that the Fed's response was largely overshadowed by these factors. The author suggests that focusing solely on monetary policy overlooks broader systemic issues.