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Unidentified Speaker — Larry Summers: Modern Monetary Theory is a recipe for a dis… [g6iB6QzuQ70]

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Claims by Unidentified Speaker — Larry Summers: Modern Monetary Theory is a recipe for a dis… [g6iB6QzuQ70] (2)

Treasury yields are very low and the Fed has paused rate increases while the economy is slowing, which might suggest that fiscal stimulus is working or that the constraints on government borrowing are looser than expected.

normativeeconomics

President Trump funded a $1.5 trillion tax cut during a time of economic growth, and the market does not seem worried about this, which represents a case where the laws of arithmetic do not seem to be constraining policy in the way they should.

normativeeconomics

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