Crying "Fire! Fire!" in Noah's Flood Watch: the OECD

Paul Krugman writes:

I Do Not Think That Word Means What You Think It Means, OECD Edition: The OECD’s chief economist responds to my column about the pain caucus:

To be clear, we are not arguing for contractionary policy, but for progressively less stimulus. In fact, stimulus should not be withdrawn completely until the economy returns to full employment. But the process should be started fairly soon, to take into account the well known long and variable monetary policy lags.

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