Why I Voted to Keep Rates Steady
Neel Kashkari
416

I wonder if you spend a moment to address a key concern of mine. It’s about money velocity. It seems that it be a key indicator of “main street” economic activity and it’s falling like a rock for quite a while now. One economist I know just decided that it doesn’t matter anymore. What is your feeling about the importance of the measure and why it’s at depression lows?

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