The Role of Benchmark Rules in Monetary Policy Accountability

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Athanasios Orphanides is a professor at MIT, formerly served at the Federal Reverse for 15 years, and was the Governor of the Central Bank of Cyprus. In Athanasios’s first appearance of show he discussed real-time monetary policy rules, their implication on the Fed’s framework review, his natural growth target, and much more.

Check out the transcript for this week’s episode, now with links.

Recorded on February 18th, 2025

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Timestamps:

(00:00:00) – Substack Announcement

(00:00:49) – Intro

(00:02:24) – Athanasios’ Career Journey

(00:06:08) – Real-Time Policy Rules

(00:23:36) – Potential Drawbacks of Monetary Rules

(00:28:46) – Natural Growth Targeting Rule

(00:37:31) – Federal Reserve’s Framework Review

(00:57:02) – Outro