Our people will suffer avoidable and potentially lasting damage.

Our people will suffer avoidable and potentially lasting damage.

Central bank officials have wasted too much time over the last year worrying about how their institutions would appear to markets, to politicians and to the public, were they to undertake more stimulus. Sometimes you have to do the right thing even if the benefits take time to become evident. If we do not undertake the monetary stimulus that the grim outlook calls for, then our economies and our people will suffer avoidable and potentially lasting damage.

Adam Posen

New York Times, 21 novembre 2011

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