Book notes: Floored!, by George Selgin
Michael Reddell remains unconvinced Fed’s introduction of IOR prolonged recession
George Selgin, Floored! How a misguided Fed experiment deepened and prolonged the great recession, Cato Institute, Washington, DC, 2018, 205 pages
George Selgin does not leave his readers guessing. The subtitle warns us to anticipate a (policy) indictment of the US Federal Reserve. If he is right, it is not a small claim. The great recession was, after all, one of the most serious recessions in many decades; and central banks exist to lean against recessions, not to worsen them.
Selgin is no
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