In Argentina, if the weather is bad, critics will blame it on the currency board. Steve Hanke More Quotes by Steve Hanke More Quotes From Steve Hanke Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates. Steve Hanke economists exchange most use Since China embraced Deng Xiaoping's reforms on 22 December 1978, China has experimented with different exchange-rate regimes. Until 1994, the yuan was in an ever-depreciating phase against the U.S. dollar. Steve Hanke against december china different After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate. Steve Hanke little day movement order Since the end of the 1970s, free-market capitalism has been in, and socialism has been out. Steve Hanke out end capitalism socialism During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed's modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief. Steve Hanke view real trouble long With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending. Steve Hanke low favor savings investment It's not a pain gauge. It's a polling gauge, that was the whole purpose of the thing. The bottom line is the original one gives politicians what they need to know. Steve Hanke
