Economics
Inflation Targeting: Keep It Simple
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 assumpti…
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.
Simpler Alternative

WGC – Central Banks Enjoying Their Longest Period of Gold Buying
Central banks have been stacking up on gold to meet their financial obligations since the 2007-08 financial crisis…
Standard Econ Model Bridges the “Unfortunate Events” and “Original Sin” Explanations for Inflation
Jai Kedia
Two weeks ago, some of the biggest names in academia and monetary policy gathered at Brookings to discuss what factors had contributed to the…
A target band for inflation?
David Beckworth directed me to this tweet:
If the Fed had a single mandate to target inflation, then there would be an argument for switching from a…
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