George Selgin on Average Inflation Targeting and *The Menace of Fiscal QE*
Macro Musings with David Beckworth
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Ford's Book, the Mena Fiscal Ce, Is More Relevant Than When It Came Out
In a much anticipated speech this week, federal reserve chairman jerome powell is expected to lay out a new framework for meeting its often elusive goal of two % inflation. In recent years, the fet has been asked to prevent financial crisis, shrink tho trade deficit, tackle climate change and now eliminate racial economic disparities. Full employment and low enflation are no longer enough. The phrase actually was used by the japanese when they bought lots of cetera in early 2000s. So it's not meant to be a counter syclical policy. It's just plain old quantitative uasing with very large scale acid purchases become relevant for counter pyclical purposes when thefed has exhausted its
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