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Business Week -- The solution is obvious: The Fed needs to deliberately raise the rate of inflation—maybe not all the way to 6%, but significantly above zero. One way to do that is to print lots of money. The Fed can create money from thin air by purchasing assets such as Treasuries and mortgage-backed securities and paying for them by crediting the seller with newly created reserves at the central bank.


Peter Coy is the Economics editor for BusinessWeek and covers a wide range of economic issues. He also holds the position of senior writer. [..] Coy holds a BA in history from Cornell University.

Жалко, Ельцин не дожил.