After last year’s Fed policy that resulted in a decline of over 10% in the broad money supply (M3), money supply might finally be
rebounding.  Is there hope for coordinated monetary and fiscal policy? Not with the supercommittee setting the economy up for failure.  If the supercommittee agrees on budget cuts, there goes the fiscal stimulus. If the supercommittee doesn’t agree,  then automatic triggers activate cuts and there goes the fiscal stimulus. In either case, the middle class can’t win for losing.

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