The 2008 crisis was triggered by a return of risk to the markets: as investors had to price in rising volatility -- for no apparent reason -- banks had to de-lever to make their sophisticated value-at-risk models work. Good luck to the Federal Reserve in containing fallout in the bond market if indeed we get the sort of growth Fed Chairman Ben Bernanke is advocating. We just point to the most recent debt ceiling discussion where both Democrats and Republicans appeared open to changing the definition of the Consumer Price Index (( CPI )) to do just that.
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