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“I Will Look to the Hills”
The inaction of fiscal policy makers has thwarted the best intentions of central bankers. This was the warning of a guest speaker, Christopher A. Sims, a Nobel laureate in economic science from Princeton, who addressed US central bankers at a recent economic conference at Grand Teton National Park.
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The central issue is that of jump-starting slow economic growth. Despite the response of the US central bank, growth remains slow, inflation remains weak and millions of middle-aged Americans are no longer ... (read more)