Paul Krugman: Climate-change economics improve
Paul Krugman, New York Times
Posted: Monday, March 10, 2014 12:00 am
The Federal Reserve recently released transcripts of its monetary policy meetings during the fateful year of 2008. And boy, are they discouraging reading.
That’s partly because Fed officials come across as essentially clueless about the gathering economic storm. But we knew that already. What’s really striking is the extent to which they were obsessed with the wrong thing. The economy was plunging, yet all many people at the Fed wanted to talk about was inflation.
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Monday, March 10, 2014 12:00 am.