Thursday, August 25, 2011

Bridge to Nowhere

The Financial Times:
The time has come for the American policy narrative to be much more explicit about the structural challenges facing the country and, critically, set the stage for proposing to Congress a comprehensive package of self-reinforcing reforms. Mr Bernanke can facilitate this by using his Jackson Hole remarks as the warm-up act for Mr Obama’s critical speech on the economy next month. Anything beyond this would run the risk of the Fed building another costly bridge to nowhere.

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