McCulley: We Are In a ‘Liquidity Trap!’

Wednesday, 11 January 2012 7:37 AM ET

Better monetary policy and better coordination between monetary and fiscal policy is worth underwriting risk, says Paul McCulley, former PIMCO portfolio manager/Global Interdependence Center managing director

McCulley: We Are In a ‘Liquidity Trap!’
Former Pimco portfolio manager Paul McCulley says we need to accept that we are in a “liquidity trap” that requires “a whole different set of economic policies.”

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