Contradictory Objections
Scott and Russ discuss the contradictory objections raised by the business community during the Great Depression regarding easy money. They explore the belief that it wouldn't have any impact due to near-zero interest rates, while simultaneously fearing hyperinflation if more easy money was implemented. This contradiction is not unique to the Great Depression, as similar concerns have been raised by the Bank of Japan in recent times.In this clip
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EconTalk
Scott Sumner on Money, Business Cycles, and Monetary Policy
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