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Monday, May 7, 2012

Monetary

News                                                                                                                             
Bloomberg | Hysteresis Undermining Labor Pattern Becomes Bernanke Fed Focus
After looking for work since May 2009, Raquel Barron, 40, hears the same thing when she interviews: We don’t want to hire someone who’s been jobless for so long.
Market Watch | Ron Paul taking end-Fed bill before panel
A House panel led by longtime Federal Reserve critic Rep. Ron Paul will take direct aim at the central bank next week when it considers a bill to abolish the powerful institution.

Blogs                                                                                                                             
Marginal Revolution | Why monetary policy matters less every day
Circa 2012, monetary policy matters less every day.  You might feel outraged by that reality, and by the policy omissions from the past, but still monetary policy matters less every day.  That point follows from basic insights from Milton Friedman and Irving Fisher, or for that matter modern most mainstream neo-Keynesian models.