Mises Daily
Author:
James Grant
Online Publish Date:
The Wall Street Journal ‘s David Wessel revealed the Fed’s strategy for dealing with an economic downturn in its August 3, 1998, edition: “The challenge for policy makers today isn’t how to respond to a stock-market crash, if one occurs. They know what to do; the lessons of ‘29 and ‘87 have been well-studied. The Fed would flood the economy with