Economic growth | Is Washington intervention in a hurting economy needed?
by Alex Tokarev
Posted 2/09/08, 12:00 am
Headlines are applauding the Federal Reserve's drop in interest rates and the White House/congressional drive to send checks to most American families. But what's the long-term cost of short-term happiness?
Price stability is a necessary condition for any economy's sustainable, healthy, long-term growth. While volatility is natural on Wall Street, sharp and unpredictable price changes on Main Street lead to inefficiencies.