The Fed repeatedly makes policy mistakes by ignoring erratic swings in nominal GDP. Today, two important media outlets published persuasive arguments in favor of NGDP targeting. Here’s Clive Crook in the Washington Post: The Fed delayed raising interest rates until now because it wasn’t sure why inflation had spiked and whether the pandemic-driven contraction of … Continue reading Nominal GDP as a policy guide
Copy and paste this URL into your WordPress site to embed
Copy and paste this code into your site to embed