The other issue of the week is the relationship between monetary policy and asset bubbles. If the Fed commits itself to near-free money for the indefinite future, bubbles are inevitable. Readers of The Ascent of Money will recall John Law’s role in the original stock bubbles.

The other issue of the week is the relationship between monetary policy and asset bubbles. If the Fed commits itself to near-free money for the indefinite future, bubbles are inevitable. Readers of The Ascent of Money will recall John Law’s role in the original stock bubbles.

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