U.S. recession of 1991 and rapid Fed reflation

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• Princes of the Yen whole source · open book

  In 1991, real GDP contracted by approximately 1 percent. How long this recession was going to last was in the hands of one institution—the Federal Reserve. It needed to print money. That is what it did, from 1990 onward.

  chapter: 11. The Battle of the Yen

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• Richard Werner author of the source

Appears in 3 stories

• Paper money, central banks, and credit creation step 41
• Princes of the Yen: Japan built, bubbled, and broken step 215
• The lost decade: credit crunch, stimulus, and broken banks step 8

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