Great Discussion of Western Economic Issues

This article provides an excellent description of the discussions going on inside the Federal Reserve. It shows how monetary policy works and it shows some of its limitations as well. we also get a good analysis of the direction that the economy is taking. The economy needs to grow beyond trend to reach "escape velocity" from recession. Currently, we are operating at stall speed. There is increased risk of recession, or, at best, a very slow growth economy for many years. The crisis in Europe is also reviewed. They have a choice between greater economic integration or evicting some of the peripheral countries from the Euro Zone. Bets are placed on eviction.