BUSINESS
03/18/2010 05:12 am ET | Updated May 25, 2011

Paul Krugman: Fed, Banks Returning To "Status Quo Circa 2007"

This article on the continued troubles in credit markets was informative. But it raised a puzzle. Call me naive, but why does Fed policy seem to assume that the only way to repair credit markets is to return to the status quo ante, circa January 2007?

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