Scott Sumner on Alternative Approaches to Monetary Policy
Macro Musings with David Beckworth
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ECP Makes Hawkish Shift as Inflation Surge Shreds Faith in the Models
The european central banks sense of urgency and tackling inflation has overtaken concerns over the damage an aggressive rate increase would inflict. Several e c b rate setters have said they are focusing more on current record levels of inflation to decide policy, moving away from an earlier more devlish approach that hinged mostly on where they expected prices to be two years from now. When do you expect it to be released? Well, probably later this year. There will be no physical book, so itwill be published on line in instalments. It will be free. And i hope to get reactions from readers and sharpen my argument based on those reactions. So maybe there'll be a version
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