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Why the Fed should not target inflation
Scott Sumner, Professor of Economics at Bentley University, proposes that the Fed target nominal growth in GDP (“NGDP”) rather than inflation as Ben Bernanke has long advocated: “Even he [Bernanke]...
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Carney broaches dumping inflation target | FT.com
Claire Jones reports that Mark Carney says central banks should consider scrapping inflation targets and target nominal GDP instead — allowing more aggressive measures during a down-turn. [Mark Carney,...
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Fed’s numerical thresholds are a bad idea
The Fed effectively tied its monetary policy to a balloon bobbing in the wind. Pedro da Costa writes on Reuters: The Federal Reserve on Wednesday took the unprecedented step of tying its low rate...
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The monetary policy revolution
James Alexander, head of Equity Research at UK-based M&G Equities, sums up the evolution of central bank thinking. He describes the traditional problem of inadequate response by central banks to...
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