If a person lives long enough, he can watch everyone forget everything they learned.
Everyone includes Federal Reserve chairmen, economists, Bank of America "strategists" and even Bloomberg.com.
Federal Reserve Chairman Ben Bernanke thinks he can hold down U.S. long-term interest rates by purchasing mortgage bonds and U.S. Treasuries. Sixty years ago, the Federal Reserve understood that this was an impossible feat. After an acrimonious public dispute with the U.S. Trea ...
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