Fullwiler, Scott; Wray, L. Randall - Levy Economics Institute - 2010
price stability as the more important of the two. In our view, the Fed's focus on inflation fighting diverted its attention … reasonable price stability. The Fed has been left to decide how to achieve these objectives, and it has over time come to view … most fundamental shortcoming of QE—or, in fact, of using monetary policy in general to combat the recession-is that it only …