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Sunday, May 26, 2024

The “Long And Variable Lag” – A Dangerous Monetary Policy Myth

• “Monetary policy always comes with a lag, taking about 18 months for the impact of a single rate increase to fully seep through into spending patterns and prices.” – Financial Times (July 5, 2023) • “It’s commonly thought that monetary policy works with “long and variable lags” …There was an old …

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