Interview Excerpt:
“Weakness begets weakness, and there are only two ways to stop weakness: fiscal policy and monetary policy.
No one has any room for aggressive fiscal policy anymore. The U.S. is looking at sequestration. We just had a 2% tax increase. There is nothing left in the cupboard for fiscal stimulation. On the monetary side, we are at 0% interest rates, and we are printing money nonstop.”
