Pulling yolks from the scramble.
A big problem: If monetary policy is tightened inappropriately, so as to pop bubbles, it will produce (what appears to be) evidence that there were bubbles that needed popping. This will happen whether or not there are any bubbles.
What does an appropriate tightening of monetary policy to pop bubbles look like?
What does an appropriate tightening of monetary policy to pop bubbles look like?
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