"Because we think we may be the next Greece, we are turning ourselves into the next Japan."

Tim Duy at Fed Watch:

Bottom Line: Both monetary and fiscal policy suffer from the same impediment – the numbers needed to be effective, in both the size of the Fed’ balance sheet and the magnitude of the federal deficit, are so big that policymakers view them as potentially destabilizing, while the magnitude to which they might be willing to commit would leave them open to criticism that their policies are failures. The obvious fallback position is to embrace the devil you know, which in this case is an economy simply limping along.

Fed on the Sidelines

Warren Mosler:

Because we think we may be the next Greece, we are turning ourselves into the next Japan.

CNBC Mention