Free is just another word for nothing left to do.
December 16, 2008 1:08 PM Subscribe
ZIRP! Not an exclamation, it stands for Zero Interest Rate Policy. One country to try this was Japan in 2001, using the euphemism Quantitative Easing in an attempt to fight a multiple year long recession. The most current country? The United States of America.
Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined. Financial markets remain quite strained and credit conditions tight. Overall, the outlook for economic activity has weakened further.
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