Tom Graff on the July FOMC Meeting and the Recession Debate
Macro Musings with David Beckworth
00:00
Do You Really Care About the Framework?
The network effects for the dollar system are so strong and unbreakable. It would take something really catastrophic to break the global dollar system at this point. As a market participant, do you really care about the framework? I mean, would you be delighted if we went to nominal, gd p level targeting? Maybe you would. Would it make much difference, though, whether they went from no average inflation targeting to price level targeting, a denominal, gety pe level targeting? So i would care a lot. For it lik think of anything, the dollars roll as strong as ever been.
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