and there were some significant ones. In addition, it showed "compassion"
Greenspan never tightened and Bernanke never eased.
re: "money supply did not adequately offset the change in velocity"
Velocity fell because there was an increased volume of saved deposits in the banking system.
Greenspan never tightened and Bernanke never eased.
re: "money supply did not adequately offset the change in velocity"
Velocity fell because there was an increased volume of saved deposits in the banking system.