I have supported the various QEs from the beginning, while seeing them as limited in their efficacy. At the time, and still, I feared deflationary pressures more than high inflation.
Got that? He is in favor of the money printing, which means he is ignoring Austrian School Business Cycle Theory. I say ignore, rather than unfamiliar, because people tell me he knows exactly how Fed money printing distorts the economy.
And he also knows that deflation, as a problem is a myth. SEE: Murray Rothbard and the Deflation Bogey
More fundamentally, Cowen apparently never learned or conveniently forgot the undeniable truth of prices as information and distorted prices as disinformation.
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