Macro Musings with David Beckworth cover image

James Bullard on FAIT, Nominal GDP Targeting, and the Fed’s Upcoming Framework Review

Macro Musings with David Beckworth

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Exploring R Star and Its Implications on Monetary Policy

The chapter examines the factors affecting the steady state real interest rate, R Star, such as technology productivity and labor force growth, and how regime switching processes can impact it. The speakers discuss whether we are transitioning into a new high growth regime and the importance of understanding R Star for making informed monetary policy decisions.

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