The Era of Cheap Money Shows No One Knows How Monetary Policy Works
Stacks of $1 dollar notes move through a machine in Washington, D.C., U.S. (Photographer: Andrew Harrer/Bloomberg)

The Era of Cheap Money Shows No One Knows How Monetary Policy Works

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(Bloomberg) -- Monetary policy is supposed to work like this: cut interest rates, and you’ll encourage businesses and households to borrow, invest and spend. It’s not really playing out that way.
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