Patrick Allen, CNBC
European Central Bank (ECB) President Mario Draghi has said he will do “whatever it takes” to defend the euro and Ben Bernanke’s Federal Reserve has gone to infinity and beyond in an attempt to revive the U.S. economy, but a growing number of market watchers are beginning to doubt unconventional monetary policy will actually work. “Investors don’t seem to have quite grasped the impotence of monetary policy in a world of supply-side problems. From labor market weakness to fiscal nightmares, our growing economic difficulties cannot be easily...
European Central Bank (ECB) President Mario Draghi has said he will do “whatever it takes” to defend the euro and Ben Bernanke’s Federal Reserve has gone to infinity and beyond in an attempt to revive the U.S. economy, but a growing number of market watchers are beginning to doubt unconventional monetary policy will actually work. “Investors don’t seem to have quite grasped the impotence of monetary policy in a world of supply-side problems. From labor market weakness to fiscal nightmares, our growing economic difficulties cannot be easily...
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