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The Economy in Perspective

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Hear ye, hear ye, hear ye … Ladies and gentlemen of the jury, the question before us is a simple one: Do overabundant money and credit creation threaten the U.S. economy with accelerating inflation and below-par performance? You have heard me present the prosecution’s argument, and you have heard the case of Ms. Rose Glass, counsel for the defense. You have also weighed a great quantity of evidence and listened to expert witnesses for both sides. Just a few minutes ago, Ms. Glass summarized the defense position. Now, before you withdraw for final deliberations, I would like to review the prosecution’s case.

Suggested citation: “The Economy in Perspective,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-04, pp. 01, 04.01.1998.

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