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Opinion: Joseph Stiglitz: It’s a no-brainer to keep rates on hold

Joseph E. Stiglitz, Ph.D

By Joseph Stiglitz (original source Market Watch) 

“At the end of every August, central bankers and financiers from around the world meet in Jackson Hole, Wyo., for the U.S. Federal Reserve’s economic symposium. This year, the participants were greeted by a large group of mostly young people, including many African- and Hispanic Americans.

The group was not there so much to protest as to inform. They wanted the assembled policy makers to know that their decisions affect ordinary people, not just the financiers who are worried about what inflation does to the value of their bonds or what interest-rate hikes might do to their stock portfolios. And their green T-shirts were emblazoned with the message that for these Americans, there has been no recovery.”

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