We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

Anti-Bagehotists in DC

27 January 2010 By Martin Hutchinson

The U.S. central bank is withdrawing liquidity while keeping interest rates low the opposite of Bagehot’s crisis advice to lend freely but at high rates. The Fed’s tactics beat keeping the firehoses running, but could restrict credit to important sectors like small business.

This content is for Subscribers only


Email a friend

Please complete the form below.

Required fields *


(Separate multiple email addresses with commas)