Must-Reads: July 12, 2016

• Dean Baker: George Will and the Fed: Do Low Interest Rates Redistribute Upward?

• Paul Krugman: Cheap Money Talks

• Storify: Oh Noes! Paul Krugman Has Caught the Tweetstorm Disease!: Paul Krugman Is, I Think, Highly Likely to Be Correct on the Policy Irrelevance of the Risk Premium. The Mystery Is Why the Very Sharp Ken Rogoff Takes a Different View…

Should Reads:

• Richard Mayhew: Risk adjustment and degree of difficulty
• Izabella Kaminska: Even lower rates? “Thanks but no thanks” say banks everywhere
• FT Alphaville: There’s a good reason to be a Long Room member…
• A Plea for Some Sympathy for Repentant Left Neoliberals…
• The Infosphere: Something’s Gotta Give…