Here’s Paul Krugman:
OK, the Fed moved. It was a bit stronger than expected — and BB and company stood up to the GOP.
But seriously, they’re trying to use a water pistol to stop a charging rhino.
Stronger than expected? By whom?
Another argument for market monetarism.
PS. The water pistol is also a good metaphor for fiscal stimulus in a NGDP hurricane.
PPS. The GOP wanted a stronger dollar, and they sure got it!