Paul Krugman @paulkrugman
Indeed. The money multiplier is a useless guide in a near-zero rate environment, where banks typically have ample reserves. And we've been in that environment since 2008. But there's a funny thing about the concept's history 1/ — PolitiTweet.org
St. Louis Fed @stlouisfed
Many econ textbooks include outdated information on how Fed policy influences banks and the economy. Educators shou… https://t.co/grAKfU9h5Q
