The Fed’s post-September 2008 monetary policy hasn’t worked as usual to stimulate a recovery. The reason lies in the unprecedented depths of the housing collapse. Conclusion: The United States must export its way to robust growth, as other countries have done.
Smith, V.L., Buchanan, J.A., & Gjerstad, S. (2012, May/June). Underwater recession. The American Interest, May/June 2012, 20-28.
The American Interest LLC