According to what I read, yes. That number is often considered constant, or at least it was initially, but now it has come under much debate regarding exactly how constant that number really is. That was part of the problem why QE didn't initially "work". People stopped spending and started saving...
According to what I read, yes. That number is often considered constant, or at least it was initially, but now it has come under much debate regarding exactly how constant that number really is. That was part of the problem why QE didn't initially "work". People stopped spending and started saving...