Friday, October 15, 2010

Sorry, QE2 Can Hurt

The liberal economist Mark Thoma blogs that he doubts QE2 will help much if at all, but what the heck:

It's certainly better than doing nothing.

Ineffective printing of money by central planners at the Fed can hurt, a lot.

Economic activity is moving at a pace that is almost by definition the "right" pace.

Some problems require hard work and imagination by elected officials and just cannot be solved by bankers.

Gentle Ben looks silly in criticizing policy-makers one day and then taking on the burden they have been shirking the next. He's done more than enough. Perhaps he can justify new, experimental actions should there be another crisis. For now, less is more.

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