In a battle for monetary policy supremacy.

Money quote:

That said, the Fed’s actions in the recovery suggest that it has probably mitigated the worst of the recession’s effects. Indeed, the Federal Reserve made dramatic moves (blue) to maintain credit standards (green):”

Read more: http://www.businessinsider.com/paul-krugman-vs-steve-keen-2012-4#ixzz1raq2T4VU

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