June 17th, 2009

fortuna

"the Fed's dramatic interest rate cuts helped keep housing strong"

Paul Krugman, 2001

"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."
NYT Editorial, August 2nd, 2002

See Krugman Did Cause the Housing Bubble for more quotas