by Summary:
The Powell press conference came and went, discussing the Fed's new approach to inflation targeting. My view is that not much has changed, and we just face largely pointless debates about messaging -- which are predicated upon the questionable assumption that expectation management can fine-tune economic growth.(For this article, I will assume the conventional view that interest rate policy can be used to control inflation. I have severe concerns about this, but if we do not assume that the central bank can fine tune growth to match arbitrary trajectories, the story is a bit more plausible.) Bond EconomicsInflation Targeting: Keep It Simple Brian Romanchuk
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
The Powell press conference came and went, discussing the Fed's new approach to inflation targeting. My view is that not much has changed, and we just face largely pointless debates about messaging -- which are predicated upon the questionable assumption that expectation management can fine-tune economic growth.(For this article, I will assume the conventional view that interest rate policy can be used to control inflation. I have severe concerns about this, but if we do not assume that the central bank can fine tune growth to match arbitrary trajectories, the story is a bit more plausible.) Bond EconomicsInflation Targeting: Keep It Simple Brian Romanchuk
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Jodi Beggs writes Economists Do It With Models 1970-01-01 00:00:00
Mike Norman writes 24 per cent annual interest on time deposits: St Petersburg Travel Notes, installment three — Gilbert Doctorow
Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten
Merijn T. Knibbe writes ´Fryslan boppe´. An in-depth inspirational analysis of work rewarded with the 2024 Riksbank prize in economic sciences.
The Powell press conference came and went, discussing the Fed's new approach to inflation targeting. My view is that not much has changed, and we just face largely pointless debates about messaging -- which are predicated upon the questionable assumption that expectation management can fine-tune economic growth.Bond Economics
(For this article, I will assume the conventional view that interest rate policy can be used to control inflation. I have severe concerns about this, but if we do not assume that the central bank can fine tune growth to match arbitrary trajectories, the story is a bit more plausible.)
Inflation Targeting: Keep It Simple
Brian Romanchuk