Patrick Horan and David Beckworth on *The Fate of FAIT* and the Future of the Fed’s Monetary Framework
Macro Musings with David Beckworth
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What's the Difference Between FAIT and TPLT?
David Rothkopf: In practice, even not in the previous framework, they often would take advantage of that. He says it's a little more tricky to think through persistent, disinflationary positive supply shocks. The idea is you make up for below target inflation that's kind of persistent. Once you go above it, the idea is revert back to a traditional inflation target.
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