Joe Gagnon on Inflation Progress and the Path Ahead: Breaking Down Jerome Powell’s Jackson Hole Speech
Macro Musings with David Beckworth
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The Impact of Federal Reserve's Monetary Policy on Inflation and the Economy
This chapter explores the relationship between the Federal Reserve's monetary policy and its impact on inflation and the overall economy. It discusses the credibility of the Fed, the drivers of inflation, the role of household savings, and the need for further action by the Fed. The chapter also delves into the debate around the applicability of the Phillips curve and the challenges in identifying a systematic relationship between inflation and unemployment.
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