And in the face of that crummy economy, QE is one of the few tools the Fed has left. The country's central bankers might hope for more direct ways to goose growth with the mint in their basement—whether buying houses or forklifts or lipstick. But right now, all they can do is try to persuade banks and businesses to look to the rest of the economy for ways to invest.
TODAY IN SLATE
Smash and Grab
Will competitive Senate contests in Kansas and South Dakota lead to more late-breaking races in future elections?
Stop Panicking. America Is Now in Very Good Shape to Respond to the Ebola Crisis.
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Can it be again?
Forget Oculus Rift
This $25 cardboard box turns your phone into an incredibly fun virtual reality experience.