More often than not, you get what you pay for.
According to economist John Taylor of Stanford University, the Federal Reserve got us the financial instability we see today by buying its way out of the 2001 recession.
Taylor is most famously known for recommending a rules-based economic policy, appropriately called the Taylor Rule. The rule instructs monetary policymakers to set the short-term interest rate in the banking system based on a target inflation rate and the gap between actual and trend gross domestic product.
The theory predicts that we will see better long-run economic growth and less financial price volatility than an approach whereby everyone is guessing what the Federal Reserve will do next. Between 2002 and 2004 interest rates were . . .
Read Dr. Crabb’s full article at http://www.idahostatesman.com/newsupdates/story/734264.html