[Pen-l] Re: Liquidity trap

[Michael Nuwer <nuwermj@xxxxxxxxx>]

People like Krugman and DeLong have been calling this a liquidity trap. Monetary 
policy is useless in the current context; interest rates are zero (or had been 
very low) and the economy is not responding positively.


Charles Brown wrote:
> Does the current hesitancy of Wall Street banks to lend 
> constitute some type of liquidity trap ?
>
> CB
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