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Is Fiscal The New Monetary? — Nicola Mai, Peder Beck-Friis

Summary:
Curiously, no mention of MMT. But useful for the analysis showing that monetary policy is not cutting it and that fiscal policy will inevitably gain in prominence. It is now pretty widely recognized that the period of monetarism spearheaded by Milton Friedman (and the Chicago School) as the "successor" of John Maynard Keynes as international policy guru is over. The question now is, who will the new gurus be? Will the pendulum swing back to Cambridge and Wynn Godley?FA — Financial AdvisorIs Fiscal The New Monetary? Nicola Mai, portfolio manager and a sovereign credit analyst and Peder Beck-Friis is a portfolio manager, both at PIMCO

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Curiously, no mention of MMT. But useful for the analysis showing that monetary policy is not cutting it and that fiscal policy will inevitably gain in prominence. It is now pretty widely recognized that the period of monetarism spearheaded by Milton Friedman (and the Chicago School) as the "successor" of John Maynard Keynes as international policy guru is over. The question now is, who will the new gurus be? Will the pendulum swing back to Cambridge and Wynn Godley?

FA — Financial Advisor
Is Fiscal The New Monetary?

Nicola Mai, portfolio manager and a sovereign credit analyst and Peder Beck-Friis is a portfolio manager, both at PIMCO

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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