BUSINESS
08/03/2012 09:29 am ET

The Fed's Dilemma

n Samuel Beckett’s famous play, “Waiting for Godot,” two men wait endlessly for a man named Godot to arrive, but he never does. Today, economic policy is paralyzed by the expectation of inflation that never arrives and never will unless policy changes. Unfortunately, that means that growth will not arrive, either.

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