A stimulating look at past recessions

The New York Times Web site posted an informative series of audio narratives from three economists about how U.S. presidents have used Keynesian ideals in their stimulus plans (although some won’t admit it). The discussions show an interesting dynamic. Presidents want to make their mark on the economy by pumping money into the system or cutting taxes, but oftentimes it’s the Federal Reserve’s actions that make a bigger impact.

This is a good history of the relationship between monetary policy (via the Federal Reserve) and fiscal policy (via the government) in solving U.S. economic problems. Check it out.