Fed Chair Powell and the New Rules of Monetary Policy
Mercatus Policy Download
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Is Nominal GDP Targeting a Possible Way for the Fed to Go?
David Frum: Nominal GDP targeting is one of these rules-based approaches that has been mentioned. He says aggregate nominal spending is what monetary policy can affect most directly and we can't really know how much of it's going to turn out to inflation versus real growth, real output. "I like nominal GDP targeting as a goal for monetary policy," he said.
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