"In retrospect, Obama would have been better off pushing for more Fed action in 2009--for instance, the Fed could have stopped paying interest on reserves, announced a goal of restoring nominal income to trend, or both--and skipping the unpopular stimulus. The economy would probably be in the same shape, and we would certainly have less federal debt."
I would say, the economy would have probably been in better shape.
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I don't blame Obama for not understanding monetary policy. Who does?
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Market Monetarists have a long way to go in convincing others, even those who should know better.
A courier is capable to deliver more things that the post office may have had to reject on the grounds of them being too weighty or too large.
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