Athanasios Orphanides on Real-Time Monetary Rules and their Impact on the Fed’s Framework Review
Macro Musings with David Beckworth
00:00
Navigating Fed Policy Challenges
This chapter explores the complexities of the Federal Reserve's monetary policy framework, focusing on the balance between discretionary actions and conflicting economic goals. It advocates for the adoption of simple monetary rules to enhance effectiveness and transparency in the Fed's decision-making processes. The discussion emphasizes the importance of clear benchmarks and periodic evaluations to adapt to economic changes while minimizing policy mistakes.
Transcript
Play full episode
