Why is it that the stimulus in 2008 was a success and the stimulus of 2020 led to inflation? Sebastian Mallaby, Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations, joins host Krys Boyd to discuss the reasons the Federal bank lost control of monetary policy, lessons in supply and demand, and why handing out money to revive a struggling economy might not be used again for a long time. His article published in Foreign Affairs is “The End of Magic Money.”
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