Central Bankers Hear Plea: Turn Focus to Government Spending
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Janet Yellen, center, chairwoman of the Federal Reserve, with the vice chairman, Stanley Fischer, left, and William Dudley, president of the New York Fed, on Friday in Wyoming. CreditBrennan Linsley/Associated Press
GRAND TETON NATIONAL PARK, Wyo. — Central bankers who gathered here to discuss better ways of jump-starting slow economic growth received a surprising message from their lunchtime speaker on Friday: Stop. You’re making things worse.
Christopher A. Sims, a Nobel laureate in economic science, told the annual conference that increased government spending was required to lift the world’s major economies from stagnation. The pursuit of innovations in monetary policy, he said, is diverting needed attention from the inaction of fiscal policy makers…
Central Bankers Hear Plea: Turn Focus to Government Spending
