Can Central Banks Goose Growth?

In the years since the global financial crisis of 2008 engulfed the world and the United States fell into the Great Recession, the panic has subsided and Western economies have recovered to varying degrees. But the downturn’s effects have proved profound and lasting, and serious risks persist for the global economy. The recovery has been slow, inflation levels remain below the targets set by central banks, and total debt levels are much higher than before the crisis began.


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