Note: Josh added this to Obama’s website, please vote it up there.
by Josh Sidman
Dandelion Salad
featured writer
January 14, 2009
Most people had probably never heard this phrase a year ago. It refers to the monetary phenomenon whereby the financial authorities find themselves powerless to stimulate the economy via the normal expedient of cutting interest rates. Ordinarily, interest-rate policy is a viable tool for speeding up or slowing down the business cycle. If the economy is sluggish, interest rates are lowered, and economic activity picks up. If the economy is too active and inflation looms, interest rates are increased, and the economy slows down. Continue reading
Dandelion Salad 