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11min chapter
James Bullard on FAIT, Nominal GDP Targeting, and the Fed’s Upcoming Framework Review
Macro Musings with David Beckworth
Evolution of Monetarism and Flexible Average Inflation Targeting
The chapter explores the evolution of monetarism at the St. Louis Fed and introduces new monetarists like Chris Waller and Stephen Williamson. It delves into the concept of Flexible Average Inflation Targeting (FAIT) and discusses the challenges faced in finalizing it amidst the pandemic, including asymmetries in makeup policies and the importance of effective communication of policy goals.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode