Keynes foresaw how central banks avoid QE accountability

The Financial Times published a letter from William White on 28 April 2024. White quotes Keynes in Chapter 15 of the General Theory who suggests that the “neutral rate” is a fiction that can be used by central banks to escape responsibility for their own actions.

 

https://www.ft.com/content/218f8a6b-3f69-4d0a-b443-b3c7a0a331a1