Ethan Ilzetzki on the International Implications of Fed Policy, Business Cycle Theory, and the UK Crisis
Macro Musings with David Beckworth
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Is There a Sustainable Fiduciary Path to Inflation?
Fiscal irresponsibility seems to be neither a sufficient nor a necessary condition for inflation. The UK also provides an excellent counter example, or a counter argument to the bank should just roll over and allow more expansionary policy. We saw with the UK that everything bad that could happen happened, but actually inflation expectations went down. So kind of at least one zero here in the UK for monetary dominance. I hope it stays that way.
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